IMF Staff Country Reports

Monetary and Exchange Rate Policies of the Euro Area

Publication Date:

April 3, 2000

Electronic Access:

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Summary:

The economic conditions in the euro area have brightened. Executive Directors commended the policy stance of the European Central Bank. They noted that the exchange rate developments of the euro failed to strengthen the euro area economy, and stressed the need for fiscal discipline, structural reforms, and wage moderation at the national level to maintain price stability in the medium term. They emphasized the need for deeper integration of European Union financial markets, development of risk capital, and improvement of the quality and sustainability of public finances.

Series:

Country Report No. 2000/046

Subject:

Employment Inflation Labor Labor markets Price stabilization Prices Unemployment

Notes:

Included with the Staff Report are the text of Public Information Notice No. 00/26 and a state ment by Joao Santos on March 15, 2000.