We are contributing to these activities, presiding, together with the Italian Banking Association, over the computer emergency response team for the financial sector (CERTFin), in which the other sectoral authorities and the most important financial and technological operators participate. Yet cyber risks cut across all boundaries at geographical, sectoral and individual organization level and therefore require collective action.
Euro area real GDP growth is projected by the ECB’s staff to be, on average, between 1.2% and 2.0% in 2005 and between 1.6% and 2.6% in 2006. These projections are lower than those published in December 2004, reflecting the weaker economic developments in late 2004. Available forecasts from international and private sector organisations convey a broadly similar outlook.