From safety to soundness for banks: the status of the European banking sector So while implementation is proceeding, we could say that we’re not there yet. But it has already left its mark on the banking sector, which is in the midst of an adjustment process.
And, indeed, there is no reason to believe that they will - at all times - have the same rates of inflation within Monetary Union. I am well aware that divergences in inflation have increased lately in the euro area as a whole. For example, inflation in Ireland deviates significantly from area-wide inflation. 2.