International financial crisis

The staff of the European Comission published a technical report summarising all policy actions taken by EU countries in the financial sector between 2008 and 2015 in response to the global financial crisis. They stress the importance of EU country surveillance framework, in order to display a certain degree of flexibility, that is tailored to specific country challenges, while ensuring that there is a consistent and coherent approach across countries. Sucesses like the expandation of credit growth to the private sector or stronger banks as a result of higher capital buffers are pointed out. Nevertheless unresolted problems like the high level of Non-Performing Loans are targeted and discussed.
 

The complete document can be found here.