Against this background, a number of policy measures for economic and fiscal reform are expected to make progress gradually, which would improve business and household sentiment. In China, the effects of economic policy measures as well as continued inventory adjustment are expected to materialize.
Let me now turn briefly to the four adjustment programmes that took place in the eurozone, by focusing on the question “what went wrong in Greece”. The distinguished panellists of the previous session have debated at length and elaborated on the very significant question of their countries’ experiences with adjustment programmes.