The markets do, politicians do, and people on Main Street do. 4  BIS central bankers’ speeches  A widespread lack of trust in public finances weighs heavily on growth: there is uncertainty regarding potential future tax increases, while funding costs are rising for private and public creditors alike. In such a situation, consolidation might inspire confidence and actually help the economy to grow.
We believe that it could be an important channel for increased lending to small and mediumsized enterprises. Because of their size, SMEs cannot generally issue bonds.