Policy highlights, July 2012
- Specific recommendations for national reform programmes | Council of the European Union (10 July 2012)
European Council “recommendations to all 27 member states on the economic policies set out in their national reform programmes, and opinions on the fiscal policies presented in their stability and convergence programmes (11296/3/12 REV 3)”.
- Quarterly report on the Euro Area| European Commission (9 July 2012)
“Against the background of weaker economic activity across the globe, the July edition of the Quarterly Report on the Euro Area examines recent trade developments at the global, EU and Member State level in detail. Overall, world trade activity has recovered reasonably well following the collapse of global trade in 2009. Spurred by strong demand in emerging market economies, it now seems to be approaching its long-term growth trend but will probably expand at lower rates than in the boom years of the previous decade. Although a potential disruption of trade finance does not appear to be a limiting factor at the current juncture, the repercussions of the financial crises in advanced economies are likely to continue to weigh on global trade, with consequences both for its geographical and its product composition.”