Secondly, there may be structural breaks in the economy which are difficult to take account of when estimating over a long time horizon. This means that there may be a bias to the estimated coefficients of the model. This is particularly relevant to South Africa given the transformation of the economy over the last decade or more. A third problem relates to data.
What does a Banking Union mean for countries inside the euro area and those outside, like Sweden and the home country of today’s host, Denmark? And is a Banking Union sufficient to kick-start bank lending and consolidate the recovery? BIS central bankers’ speeches  1  Elements of a banking union Let me start with my first question.