Safeguarding confidence in the banking sector and the regular financing of the economy, i.e. preserving financial stability, is also a key factor in avoiding a credit crunch and a deeper economic recession. It is also important to keep in mind that adjustment programme goals are always short-term by nature.
Therefore, the adjustment will only be sustainable if there are structural and institutional changes that prevent the recurrence of the conditions that led to the need for adjustment. This means that, despite the undisputed progress made during and after the 2011–2014 programme, there is no room for complacency.