The Macroeconomic Outlook and the Impact of the Global Crisis in the Euro Area

Abstract

This paper provides general analysis and evolution of macroeconomic and financial indicators in the euro area, during the recent crisis 2008-2009. The financial market turmoil that began in 2007 led to a severe global economic downturn. The causes of the crisis, the effects on global financial markets, and the spillover to the economy are permanently examined by the analysts, but the final conclusions are not clear yet. The conclusion of this paper is that the global activity is recovering at varying speeds in some countries, tepidly in many of the advanced economies but solidly in most emerging and developing economies.