Indeed, in Greece we have observed that foreign banks have entered the market and subsequently they expanded or left in a haphazard way, not on the basis of local conditions or profitability, but mostly on the basis of wider strategies whether to expand globally or not. Formally, we can say that this increases the correlation of emerging markets with the outside world.
At the present juncture, the persistently high oil prices and their potential second-round effects on wage and price-setting pose a threat to price stability. At the end of April, oil prices were around 30% higher than at the beginning of 2005 and around 50% higher than a year ago.