Additionally, low interest rates and unconventional monetary policies could also drive up financial risk-taking in some financial market segments or the real estate market. I currently see no sign of exuberance in the real estate market in the euro area as a whole.
Providing more autonomy to public sector organizations, with effective leadership and management, to improve their operational and financial efficiencies accompanied by a program to strengthen their balance sheets which should allow them to graduate from budgetary allocations to seeking funding from the market.