(II)  Banks and risks  It is perhaps a tautology to state that banking is about risk management. Banks are in the business of taking risks as risks are inherent in the process of maturity transformation.
In the labour market significant changes were adopted aiming at: –  better aligning wage developments with firm performance; and  –  enhancing labour mobility across sectors. –  More specifically, reforms involved measures to decentralise wage bargaining to firm level, reduce minimum wages and increase flexibility.