It is to be noted that this level is low compared to the central Eastern Europe and the Baltic countries. The cumulative FDI inflows into the countries of South Eastern Europe over the period 1989 to 2003 has been on average less than USD 700 per capita, approximately one third of the comparable figure for central Eastern European and Baltic countries.
I mentioned briefly investment in financial intermediaries as an area where euro area investors have been particularly active. In fact, euro area banks and financial institutions have been the most important investors in the respective banking sectors, contributing to financial development in the region. Let me now turn my attention to the use of the euro in the region.