1 Subjects: “...Euro Area...”

2 Subjects: “...Euro Area...”

3 “...In recent years the euro area has shown less resilience to the negative and largely OECD-wide...”

4 “... evidence for trade diversion due to integration in Europe, while trade is likely to have boosted area-wide...”

5 “... of coordinated structural reforms in the euro area as well as the need for an adequate monetary policy response...”

6 “... areas will have to be more prudent during upswings and to build in greater safety margins to be able...”