In this respect, the continuation of moderate wage developments will be a crucial factor in both employment generation and the confinement of inflationary pressures. At the same time, more decisive structural reforms in the euro area would certainly enhance the prospects for continued economic expansion.
Additionally, many SMEs shied away from using offshore markets like Hong Kong, since they want to avoid operating in a different time zone and business language. These caveats are now cleared away by the ongoing liberalisation.