First, in respect of the restricted term limits for directors, I am pleased to announce that the Minister of Finance has agreed to extend the transition period from eighteen months to three years of the Act coming into effect, so as not to cause undue disruption in the governance structure for the credit union sector.
Improving competitiveness in turn drives exports higher. All peripheral countries – except Cyprus – are projected to see some export growth this year. These achievements are reflected in current accounts increasingly reverting to positive balances. BIS central bankers’ speeches  1  And Germany is part of this rebalancing equation.