The ECEF will provide capital, financial advisory services, technical assistance and general financial services to promote the growth of business ventures in the region, while the ODTC will serve as a third-party logistics company to facilitate trade across the OECS. Throughout the year, the Bank continued to provide technical support to the member governments in accessing financing on the Regional Government Securities Market.
Decisions would mainly be taken at the national level, while the consequences of those decisions would be spread across the entire euro area. Many proposals in terms of risk sharing and mutualising liabilities have been put forward over the last years, including Eurobonds or the establishment of a common deposit guarantee scheme, but little has been said about the necessary transfer of fiscal sovereignty.