European Parliament Library

Luxembourg :, 2009 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Luxembourg

The adverse impact of the crisis on Luxembourg’s growth outlook is partly mitigated by the authorities’ well-conceived fiscal policy response. The staff report for Luxembourg’s 2009 Article IV Consultation highlights economic developments and policies. It combines substantial fiscal stimulus, including subsidies aimed at stabilizing employment, with the full functioning of the automatic stabilizers. All major expenditure components of GDP are likely to be adversely affected by the financial crisis, waning confidence, and euro area recession
Table Of Contents
Cover; Contents; I. The Context; II. The Outlook: Macrofinancial Linkages and Spillovers; A. Financial Crisis Weighing on Near-Term Outlook; B. Spillovers and the Crisis' Adverse Effects on the Medium-Term Outlook; Boxes; 1. Competitiveness; III. Risks to Financial Stability; A. Intragroup Exposure and Liquidity Risks; B. Leverage and Capitalization; C. The Importance of Money Market Funds to Euro Area Banks; 2. Money Market Funding and Euro Area Banks; IV. The Response to the Crisis; A. Policy Action; B. Policy Implications; V. The Impact of the Crisis on the Budget; VI. Staff Appraisal
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (45 p.)
Specific Material Designation
Form Of Item

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