Specifically, the performance of the Greek economy during the crisis reflects the relatively-low level of openness and the deterioration of public-sector balance sheets from a position that was already worrisome prior to the onset of the crisis. A factor that has, however, supported the Greek economy has been the soundness of its banking system.
The heavy cash-based nature of the East African economies, civil conflicts and porous borders make the region particularly vulnerable to money laundering and financing of terrorism. However significant progress has been made across the region in strengthening AML/CFT regulatory regimes particularly with the support of the Eastern Africa Anti-Money Laundering Group (ESAAMLG).