R&D expenditure reached € billion or 0.99% of GDP in 2016 from € billion or 0.67% of GDP in 2011. Despite the continuing rise, Greece records one of the lowest R&D intensities compared to its euro area peers (2.0% of GDP).
Some key components of our banking union (such as the build-up of the Single Resolution Fund and the removal of national options and discretions in bank supervision) are still being phased in, and some key drivers of fragmentation, such as the bank-sovereign nexus, remain unsolved – not to mention a lingering risk of political fragmentation.