While growth in export (including intra-trade) rose at double-digit rates last year, growth rates for the current year, on the basis of an unchanged euro exchange rate, are expected to lie somewhere between 5% and just under 8%. The contribution of net exports to GDP growth should, therefore, decline considerably compared with the previous year and be largely neutral in the current year.
BIS Review 52/2010  1  obtained suggested that the capital and liquidity of the firm were seriously deficient, a view that we conveyed to the company and that I believe was shared by the SEC and the Treasury Department.