The ECB has helped, and will continue to help, to bring forward the two processes of risk reduction and risk sharing, within its mandate as a central bank and supervisor. In this context, accelerating the work on creating a European deposit insurance scheme is essential, as is introducing a common backstop for the Single Resolution Fund.
Poverty in Asia Nonetheless, the history of the Asian economy shows quite clearly that economic growth is a key driver of poverty reduction. In the past 50 years, extreme poverty has significantly decreased in Asia. Here, I refer to the World Bank's current definition of extreme poverty – living on less than 1.9 U.S. dollars a day.