An enterprise is a social entity that weaves various social relationships. It comes into being in order to reduce transaction costs and to increase social wealth. Financial enterprises connect with the public with even stronger social feature and bigger social responsibility. It is of vital importance for them to select qualified shareholder representatives and qualified managers.
The main downside risks relate to the impact of weaker than expected growth in the euro area and globally. The monetary analysis indicates that the underlying pace of monetary expansion remains subdued. The annual growth rate of M3 decreased to 1.6% in December 2011, after 2.0% in November, reflecting a further weakening of monetary dynamics towards the end of the year.