1  The mandate of the sub-committee is to aim at promoting further the integration and better functioning of EU government bonds and bills markets thereby impacting positively on the financial markets as a whole. BIS Review 159/2009  1  2.
Government finances  The global economic prospects were gloomy at the beginning of the year and the financial crisis has had greater real economic repercussions than expected, which triggered the adoption of large stimulus packages worldwide. As a result of lower government revenue and rapidly rising expenses, public finances have deteriorated.