We've seen increased cross-listings of stocks and more cross-border ownership and control of exchanges, banks, and securities settlement systems. Outside of the United States, in 1997, 15 percent of the assets in private equity portfolios were in foreign equities. A decade later, this share has risen to 24 percent.
With the Government’s access to market funding severely curtailed, the Central Bank did not hesitate to recommend a prompt application for assistance to the EU and IMF financial support facilities. It provides a window of time during which the Government can demonstrate its adherence to a convergent fiscal strategy, thereby helping to rebuild market confidence. To date, the programme is firmly on track.