THE FINANCIAL CRISISAND THE EUROPEAN UNION -- THE FINANCIAL CRISIS AND THE EUROPEAN UNION -- CONTENTS -- PREFACE -- AEUROPEAN ECONOMIC RECOVERY PLAN* -- THE TIME TO ACT IS NOW -- 1. INTRODUCTION -- A EUROPEAN ECONOMIC RECOVERY PLAN -- 2. SUPPORTING THE REAL ECONOMYAND BOOSTING CONFIDENCE -- 2.1. Monetary and Credit Conditions -- 2.2. Budgetary Policy -- 2.3. Actions in the Four Priority Areas of the Lisbon Strategy -- 3.WORKING TOWARDS GLOBAL SOLUTIONS -- Keeping World Trade Moving -- Tackling Climate change -- Supporting Developing Countries -- 4. CONCLUSIONS -- REFERENCES -- THE EUROPEAN UNION:QUESTIONS AND ANSWERS* -- ABSTRACT -- WHAT IS THE EU? -- HOW DOES THE EUWORK? -- HOW IS THE EU GOVERNED? -- WHY AND HOW IS THE EU ENLARGING? -- WHAT WAS THE EU CONSTITUTIONAND WHY A NEW REFORM TREATY? -- DOES THE EU HAVE A FOREIGN POLICY? -- DOES THE EU HAVE A DEFENSE POLICY? -- WHAT IS THE RELATIONSHIP BETWEENNATO AND THE EU? -- DOES THE EU HAVE A TRADE POLICY? -- HOW ARE U.S.-EU TRADE RELATIONS DOING? -- HOW DO EUROPEAN COUNTRIES VIEW THE EU? -- THE FINANCIAL CRISIS: IMPACT ON ANDRESPONSE BY THE EUROPEAN UNION* -- ABSTRACT -- OVERVIEW -- Financial Architecture -- Economic Performance -- THE FINANCIAL CRISIS AND THE EUROPEAN UNION -- PHASE I: BUILD-UP -- PHASE II: LIQUIDITY ISSUES -- Central Bank Operations -- Interest Rates -- Currency Swap Facilities -- Depositor Guarantees -- PHASE III: SOLVENCY AND DELEVERAGING -- The "European Framework for Action" -- "Bad Banks" -- PHASE IV: FISCAL INTERVENTION -- EUROPEAN ECONOMIC RECOVERY PLAN -- Germany -- France -- United Kingdom -- OUTLOOK -- APPENDIX A. OVERVIEW OF THE EUROPEAN UNION -- Investment Services Directive -- Financial Services Action Plan -- Markets in Financial Instruments Directive -- Capital Requirements Directive -- Lamfalussy Process -- REFERENCES.

THE GLOBAL FINANCIAL CRISIS:THE ROLE OF THE INTERNATIONALMONETARY FUND (IMF)* -- ABSTRACT -- WHITHER THE IMF? -- IMMEDIATE CRISIS MANAGEMENT -- REFORMING GLOBAL MACROECONOMIC SURVEILLANCE -- REFERENCES -- ICELAND'S FINANCIAL CRISIS* -- ABSTRACT -- BACKGROUND -- RECENT ECONOMIC ACTIVITY -- BANKING COLLAPSE -- CONCLUSIONS -- INDEX.