ABSTRACT
This chapter provides an overview of selected features of the economic and financial structures of the euro area and sets them into perspective with the situations prevailing in the United States (US) and Japan. It describes the 'direct' channel, namely debt securities and shares, and the 'indirect' channel, namely banks and other financial intermediaries such as insurance corporations and pension funds. The chapter describes some of the key macroeconomic features of the euro area and sets them into a broader perspective by making a comparison with the US and Japan. It reviews a number of selected economic indicators, including output, consumer prices, labour markets, public finance and external trade in order to provide a broad indication of the situation prevailing in the euro area from a broader international perspective. The chapter provides broad indications on the basis of commonly-used measures and compares changes over time within one economic area rather than across economic areas.
