Recently, savings rates have also inreased sharply in oil-producing countries, with the boost in income from high oil prices. - One should also emphasise the factors related to indebtedness and financial investment. By definition, the increase in an economy's indebtedness is the counterpart of its current account deficit.
Public funds such as those of the European Stability Mechanism (ESM) should only be used temporarily in emergencies. Such temporary assistance should be covered by subsequent levies on banks, so that it ultimately has no fiscal policy impact. The European Commission will be submitting draft legislation on a common resolution mechanism at the end of the month.