Private capital flows to Latin America have resumed, while those to the emerging countries of Asia and the countries of central and eastern Europe have remained strong; the flow of direct investment from the industrial countries continues; investment and growth in the developing areas are gaining pace. 4.
M&A activity has been weak in the euro area since the crisis – from 2008 to 2012 the overall value of deals decreased fourfold to just € billion, with cross-border deals the most affected. The SSM nonetheless increases the potential to reap economies of scale within the single market, for instance by allowing banks to optimise their internal management of capital and liquidity.