However, at the team’s recommendation, there are many steps whose implementation can help reinforce competitiveness in the banking system. 2  BIS central bankers’ speeches  Defense expenditures increase from year to year, although their share of GDP continues to decline and has now reached its level from the beginning of the 1960s. Still, defense expenditures are the largest component in the state budget.
This is due to the fact that, for very good reasons, the EU Treaty prohibits any central bank from financing its government. This applies to Greece as to any other euro area country, and our decisions have followed exactly the same rules under this government as under the previous ones.