However, the recovery in domestic demand in the euro area continues to be hampered by the necessary balance sheet adjustments in a number of sectors and the sluggish pace of implementation of structural reforms.
Participation could over time be  5  BIS Review 21/1999  extended to include representatives from a small number of additional (i.e. non G-7) national authorities that could contribute substantially to the process, or to invite them to attend meetings as guests.