Thus, even though enhanced macroeconomic surveillance is indispensable, its actual implementation might prove difficult and could easily lend itself to discussions that distract from the real challenges – past demands on Germany to implement a more expansionary wage policy and to set more fiscal stimuli being a case in point.
In addition to a high level of resilience – as confirmed by the comprehensive assessment – banks also need, not least, to be successful in terms of sustainable profitability in order to be able to hold their own in the market in the long run. So what can we ascertain from banks’ earnings situation?