Noticeable developments are that the rates of growth in current profits and sales in (1) food; (2) accommodations, eating & drinking services; and (3) services for individuals are greater than those for fiscal 2014 reported in September 2014.
By improving private risksharing, the banking union will importantly sever the link between financial system instability and resulting threats to fiscal sustainability of individual euro area countries, especially smaller ones. The high risk premiums some banks faced in refinancing markets meant that they did not benefit from the low interest-rate environment provided for by the accommodative monetary policy stance of the ECB.