In mid 2008, for example, underlying inflation was around ¾ of a percentage point higher than can be explained by the average of these models, and none of the models can explain  1  There has also been considerable volatility in the price of financial services due to the effect of the financial crisis.
The Plan has led to the adoption of almost 42 Community measures which cover banking, securities, asset management, insurance and pensions, clearing and settlement and many other cross-cutting issues. The impact of the FSAP on financial markets will, however, take time to manifest itself fully, and the focus now is on consistent enforcement and implementation across the Union.