In order to foster various innovations by firms, it is essential to promote basic research to support them (Chart 11). For example, "the number of highly cited papers," which is a proxy indicator of basic research, unfortunately is much smaller in Japan than in other countries. Providing sufficient funds may be important to raise the level of such research.
This proposal was rejected by the Cypriot Parliament mainly due to the “bailing-in” of small deposit-holders and thus, undermining the deposit insurance guarantee, which is a central tenet of their banking system.