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Europe Daily Bulletin No. 8192
Contents Publication in full By article 24 / 37
GENERAL NEWS / (eu) eu/enlargement/economy

Commission report on macro-economic stability in candidate countries stresses need for "permanent vigilance"

Brussels, 15/04/2002 (Agence Europe) - On Monday the European Commission published its report on macro-financial developments and financial stability in candidate countries wishing to join the EU. The report stresses that it is vital that these countries are permanently vigilant in this field. The participation of these counties in the assessment report of the financial sector of the International Monetary Fund and World Bank, as well as the Commission's analyses of the effectiveness of the supervision systems in candidate countries will help these countries to "identify the specific challenges", stresses the Commission, which also calls on these countries to act quickly to the conclusions drawn in these exercises. The Commission says it is crucial that they develop their own capability of implementing a permanent and continuous risk control system in tandem with their economic development. The Commission also recognised that certain crises can be provoked or accentuated by implemented policies and stresses the usefulness of regular and detailed dialogue between Member States and candidate countries, whilst receiving regular technical assistance from the Commission. (The report of 137 pages, which analyses the situation in all the candidate countries, including Turkey, can be found on:

http: //http://www.europa.eu.int/comm/economy_finance/publications/enlargement_papers/enlargementpapers08_en.htm ).

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