Nevertheless, the banking and insurance sectors maintained high-quality capital buffers well above the minimum prudential requirements, and remained profitable. Growth in bank credit granted has begun to increase, the growth rate in impaired advances is decelerating and lending standards of banks are showing signs of loosening.
The priority now is to achieve greater convergence between the countries and thus create a more resilient economic bloc. Every country must continue with its reforms: in particular France, but also Germany. Does the economic transformation of France promised by Emmanuel Macron go far enough? It will enable France to make up for lost time.