You will find further information relating to this Decision in the separate press release which has been issued today. I should also like to mention that the Governing Council had a preliminary discussion on EU accession countries. The accession of new members to the European Union is an area of development in which the Eurosystem will be increasingly involved.
Illiquidity in the economy will increase substantially, partly also due to much faster submission of promissory notes for early payment by creditors. As there is no chapter 11 type of creditors’ protection scheme, the  BIS Review 51/2009  1  number of bankruptcies will increase as well. Interest rates will remain high despite the fact that central banks will lower reference rates.