While Portugal, Spain, Italy and Greece have moved up the ladder in the Doing Business Report, they are still a considerable distance from the top, with Portugal ranking 31st, Spain 52nd, Italy 65th and Greece 72nd. 2  BIS central bankers’ speeches  Accordingly, recent estimates1 by the European Commission suggest a medium-term growth potential (2014–23) for the euro area of only 1%.
4  BIS Review 112/2007  In this context it is important to point out that central banks can ill-afford to take any chances with systemic risks. In the process of addressing problems “for the greater good” there could be some by-product of unintentionally providing help to those who do not quite deserve it.