Debt yield spreads in Europe – too high It remains to be seen whether the initiatives in this direction (banking supervision, deposit insurance and resolution) will be enough in themselves to reassure markets, sufficiently narrowing again the spreads on Government debt to the tight range that was observed throughout almost all of the first decade of the euro.
This provided greatly enhanced employment opportunities for those who had not been in the work force before. It facilitated the employment of a continuing movement of labour out of the agricultural sector. It also supplied off-farm income opportunities for farmers. Immigrants, both returned Irish and others, were readily absorbed.