The ECB and the ESCB national central banks developed an own set of accounting rules for specific central bank operations back in the mid 1990’s at a time when national accounting rules took precedence. The Eurosystem rules have not stayed static since then.
At the same time, a recovery of investment requires a business environment with a low administrative burden for businesses, an efficient public sector and a stable tax environment that will ultimately facilitate the easing of the tax burden on businesses and individuals. A question that arises is the extent to which this growth model will be viable on the demand side.