The second half of the 1990s saw a protracted upswing in which the threat of economic overheating was countered several years in a row by introducing fast-acting measures to increase the supply of labour and lower structural unemployment. But the situation has changed since then and the instruments applied cannot be re-used. At that time, structural unemployment was 8-10 per cent.
The benefits of European banking supervision  Shifting banking supervision from the national to the European level harnesses three specific benefits. First, European banking supervision makes it possible for banks throughout the euro area to be supervised according to the same high standards.