However, our research indicates that so far the effects have been limited: fewer than 2 per cent of firms report they increased their shareholders’ equity in 2012–13 to take advantage of the allowance.
Russia’s war against Ukraine has cast a dark shadow over our continent and is likely to trigger a slowdown in growth and higher inflation in the near-term. After the largest contraction on record in 2020, the euro area economy transitioned to a firm path of recovery in 2021.