Impact of the Euro zone Sovereign Debt Crisis: Finnish Perspective Global Interdependence Center Roundtable discussion Banque de France, Paris, March 27, 2012 Antti Suvanto Head of Department Bank of Finland 22.3.2012
Antti Suvanto
SUOMEN PANKKI | FINLANDS BANK | BANK OF FINLAND
Recessions differ
Recessions without financial crisis
Recessions with financial crisis
US GDP 2008Q3=100 Euro area 2008Q3=100
Finland 2008Q3=100
Sources: IMF World Economic Outlook, April 2009 and Bank of Finland. 22.3.2012
Antti Suvanto
SUOMEN PANKKI | FINLANDS BANK | BANK OF FINLAND
25856
Bond yields
22.3.2012
Antti Suvanto
SUOMEN PANKKI | FINLANDS BANK | BANK OF FINLAND
Bank lending growth
Finland
Euro area
22.3.2012
Antti Suvanto
SUOMEN PANKKI | FINLANDS BANK | BANK OF FINLAND
Central bank balance sheets
ECB
BoE Fed
Riksbank
25200
22.3.2012
Antti Suvanto
SUOMEN PANKKI | FINLANDS BANK | BANK OF FINLAND
Bank of Finland balance sheet
% of GDP Monetary policy related claims
Target 2 claims
Assets
Liabilities
Monetary policy related deposits
25917 22.3.2012
Antti Suvanto
SUOMEN PANKKI | FINLANDS BANK | BANK OF FINLAND
Target 2-balances DE
FI
PT
FR
GR
IE
ES
IT
Liabilities
Claims
25917 22.3.2012
Antti Suvanto
SUOMEN PANKKI | FINLANDS BANK | BANK OF FINLAND
Current account
25856 22.3.2012
Antti Suvanto
SUOMEN PANKKI | FINLANDS BANK | BANK OF FINLAND