... 20172016201520142013 –7 –6 –5 –4 –2 –3 –1 02413Source: IMF staff estimates.Note: Core = Austria, Belgium, Finland, Germany, and the Netherlands; periphery = Greece, Ireland, Italy, Portugal, and Spain.Figure1.12.ImpactonEmployment ... Japanese, U.K., and U.S. yield curves; (2) IMF forecasts of spreads for Austria, Belgium, Finland, France, Italy, the Netherlands, and Spain; and (3) WEO scal and GDP forecasts. For a description ... 2013 2012 2013Euro area 0.0 0.3 – – 0.0 –1 .2Italy 0.0 0.5 – – 0.0 –1 .6Spain 0.0 0.6 – – 0.0 –1 .9Source: IMF staff estimates.CHAPTER 2 RESTORING CONFIDENCE AND CONTAINING GLOBAL SPILLOVERS...