{"id":3587,"date":"2012-03-05T14:07:45","date_gmt":"2012-03-05T12:07:45","guid":{"rendered":"http:\/\/www.poleconomix.gr\/portal\/?p=3587"},"modified":"2012-03-05T14:07:45","modified_gmt":"2012-03-05T12:07:45","slug":"challenges-for-the-euro-area-and-implications-for-latvia","status":"publish","type":"post","link":"https:\/\/www.poleconomix.gr\/portal\/challenges-for-the-euro-area-and-implications-for-latvia\/","title":{"rendered":"Challenges for the euro area and implications for Latvia"},"content":{"rendered":"<p><a href=\"http:\/\/www.bruegel.org\/scholars\/scholar-detail\/scholar\/213-guntram-b-wolff\/\" target=\"_blank\">Wolff, Guntram<\/a>.<\/p>\n<p>This Policy Contribution reviews the major challenges faced by the euro area, and discusses recent initiatives and the way forward. Some implications are drawn out for Latvia\u2019s euro accession, which is likely to be beneficial on balance.<\/p>\n<p>The euro area faces three major challenges: (1) high private and public debt in some of its parts together with a requirement for competitiveness adjustment that in some countries has barely started; (2) weak growth outlook; (3) continued banking-sector fragility that, with sovereign stress, feeds a negative feedback loop. The euro area has agreed many significant measures to overcome these problems, including the European Stability Mechanism and the fiscal compact. The 21 February agreement on Greece removes a major source of financial instability even though it is likely that further debt reductions will be needed. Significant concerns remain, the most important of which are the slow real economic adjustment and the largely unaddressed banking-sovereign fragility. The fiscal compact raises the issue of appropriate fiscal stabilisation tools at the euro-area level.<\/p>\n<p><strong>\u03a0\u03b7\u03b3\u03ae: <\/strong>Bruegel<\/p>\n<p><a href=\"http:\/\/www.bruegel.org\/publications\/publication-detail\/publication\/711-challenges-for-the-euro-area-and-implications-for-latvia\/\" target=\"_blank\">\u03c0\u03bb\u03ae\u03c1\u03b5\u03c2 \u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03bf<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wolff, Guntram. This Policy Contribution reviews the major challenges faced by the euro area, and discusses recent initiatives and the way forward. Some implications are drawn out for Latvia\u2019s euro accession, which is likely to be beneficial on balance. The euro area faces three major challenges: (1) high private and public debt in some of [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,37],"tags":[26,25],"class_list":["post-3587","post","type-post","status-publish","format-standard","hentry","category-18","category-37","tag-26","tag-25"],"_links":{"self":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/3587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/comments?post=3587"}],"version-history":[{"count":2,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/3587\/revisions"}],"predecessor-version":[{"id":3589,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/3587\/revisions\/3589"}],"wp:attachment":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/media?parent=3587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/categories?post=3587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/tags?post=3587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}