Basel II : benefits and major issues The complexity of Basel II arises from several options available and these are well known. Consequently, many of the countries which have voluntarily adopted Basel I also view these issues with considerable caution.
Recent information has confirmed the Governing Council's earlier assessment that economic activity in the euro area was weak in the second half of 2001 and will probably remain subdued in early 2002. However, although the outlook is still surrounded by a high degree of uncertainty, there are indications pointing to a gradual economic recovery in the euro area in the course of this year.