Bank losses and funding strains in the aftermath of the great financial crisis gradually morphed into low bank profitability, with structural and cyclical dimensions that we have been highlighting as key risks to euro area financial stability for almost a decade. At the same time, non-bank financial intermediaries have grown in size, taking on more credit, liquidity and duration risk.
Third, the most effective way to reduce poverty is to help the poor people develop their local economy. African countries play a leading role in their own development. Meanwhile, cooperation and support from the international community are needed. It is worth noting that the economic development is unbalanced among African countries.