Three years ago, the Bank of Greece asked individual banks to assess their future developments in view of the likely end of the expansionary phase of the economic cycle and their need to be prepared to endure lean years.
We are independent and we know what our Treaty mandate is. BIS central bankers’ speeches  3  Zeit: Nevertheless, it is a difficult situation for you. Germany is booming and actually needs higher interest rates, while southern Europe is in crisis and would not be able to cope with this.