2017 European Semester Annual Growth Survey & Euro Area Recommendation
2017 Annual Growth Survey
Strategic priorities and actions MFI lending (flows) to the EA private sector (loans) 4q mov.av.
Boosting investment Better functioning of the financial sector Better access to finance (through CMU) Address vulnerabilities in the banking sector to make good use of available funds Tackling investment barriers
Source: ECB, Commission calculations
Strategic priorities and actions Productivity-enhancing reforms Modernise labour market Unlock full potential of investment and productivity in Europe Deepen the single market and make national markets bigger
Export market shares
Services productivity and export performance 2001-2014
Source: Commission calculations
Strategic priorities and actions The right policy mix Positive fiscal stance to support monetary policy Frontload public investment Reforms to improve long-term sustainability of public finances Euro area fiscal stance over 2011-2017
Source: Commission calculations
2017 EURO AREA RECOMMENDATION • Recommendation in five parts for the euro area as a whole. • Based on the Commission's analysis of key issues for euro area functioning. • Presented in November to allow for an early and focused discussion of common challenges.
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2017 EURO AREA RECOMMENDATION
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2017 EURO AREA RECOMMENDATION
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