Euroframe report 2012: Economic assessment of the euro area

This report is rather different from previous EUROFRAME forecasts produced over the last decade. On this occasion the major uncertainty in the forecast arises from the stance of domestic policy within the euro area, not from external factors. Because of this uncertainty we have focused on three different scenarios for 2012 and 2013 rather than concentrating on a single “likely” forecast, as was usual in the past.