The size of the interventions may be up for debate, and in hindsight may have been excessive in some economies, or should perhaps have been halted somewhat earlier.
The euro area economy has sound fundamentals and does not suffer from major imbalances. Investment growth – while dampened by the global slowdown – should provide ongoing support. At the same time, employment and labour force participation have increased significantly and  BIS Review 33/2008  1  unemployment rates have fallen to levels not seen for 25 years.