European Parliament Library

Republic of San Marino :, Staff Report for the 2014 Article IV Consultation

This 2014 Article IV Consultation on the Republic of San Marino highlights global crisis and tense relations with Italy, which triggered a 30 percent GDP contraction since 2008 and a sea change in San Marino’s off-shore banking model. High liquidity in the system allowed banks to withstand the shock to deposits. Cassa di Risparmio della Repubblica di San Marino, the largest bank, has required 13 percent of GDP in public support. The deep recession and bank recapitalization costs are weighing heavily on public finances
Table Of Contents
Cover; CONTENTS; CONTEXT, OUTLOOK, AND RISKS; POLICY DISCUSSIONS; A. Financial Sector; BOXES; 1. CRSM: Past Recapitalizations; B. Public Finances; 2. Adjustment Needs Under an Upside Scenario; C. Structural Issues; D. Data Issues; STAFF APPRAISAL; FIGURES; 1. Recent Economic Developments, 2006-13; 2. Financial Sector Indicators, 2008-13; TABLES; 1. Selected Economic and Social Indicators, 2007-14; 2. Financial Soundness Indicators, 2007-13; 3. Central Government Operations, 2008-15; APPENDICES; I. Risk Assessment Matrix; II. Public Debt Sustainability Analysis; CONTENTS; FUND RELATIONS
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (39 p.)
Specific Material Designation
Form Of Item

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