I do not want to suggest that this is not a problem – it may well be a big one, but the solution to it would be found in improvements to our policies regarding retirement income. 2. The second possible problem is that any reduction in saving, other things equal, would lead to an increase in the current account deficit.
Starting in 2008, the National Bank of Serbia has been involved in a range of EU-funded ESCB programmes. In addition, there has been a close bilateral cooperation between the National Bank of Serbia and the Bundesbank. For instance, we carry out up to ten bilateral activities on central banking and supervisory topics each year.