Policy highlights, August-September 2012
- Economic sentiment faces depression in the EU | EC survey (July 2012)
“In July the Economic Sentiment Indicator (ESI) decreased by 1.4 points in the EU, to 89.0, and by 2.0 points in the euro area, to 87.9.” “While three quarters of the Member States witnessed a drop in economic sentiment, this was only the case for three out of the seven largest Member States: The ESI registered sharp falls in Germany (-3.7) and France (‑2.3) and also decreased in Spain (-1.4). However, the ESI continued
last month's recovery in the UK (+1.7) and Italy (+1.3) and rose slightly in the Netherlands (+0.6). The figure for Poland is broadly unchanged (-0.1).”
“Confidence in industry continued the downward trend reported since March. While relatively moderate in the EU (-0.7), July's decrease in the euro area was sharp (-2.2).” “Consumer confidence weakened in both the EU and the euro area by 0.5 and 1.7 points respectively, amid higher unemployment fears, as well as worsened expectations about the future general economic situation and savings.”
- Spain: Memorandum of understanding on financial – sector policy conditionality | EC ECFIN (20 July 2012)
- Statement by the IMF, EC and WB on the Review of Romania’s Economic Program | Europa press release (14 August 2012)