Suspension and discontinuation of businesses have not surged.3 Under these circumstances, the decline in the number of employed persons has been constrained compared with a significant decline in economic activity. Employment and income are projected to remain under downward pressure for the time being but likely to turn to an improving trend thereafter, with domestic and external demand recovering.
the Committee of European Banking Supervisors (CEBS), the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) and the Committee of European Securities Regulators (CESR), signed last Thursday a joint protocol that aims to foster cooperation and coordination in their tasks of common interest.10 As I already mentioned, the Eurosystem is of the view that the potential of the existing framework should be fully exploited.