In almost all euro area countries the national authorities provided euro coins to credit institutions from September 2001 because their bulk made them more difficult to transport and their lower value meant that the risk to credit institutions was lower than for banknotes. Five countries (i.e.
The financial conditions have been achieved, but the regulatory and fiscal conditions have yet to be put in place. The question, then, is whether we need greater public investment in order to act as a catalyst. Yes, certainly – but only in countries with sufficient room for manoeuvre. Is the recovery not artificial, driven by liquidity?