As a group, the G7 countries are experiencing only relatively weak growth, especially when viewed against the very large contraction in output that occurred. In contrast, the picture in Asia is quite different, with many of the economies in the region having had near V-shaped recoveries.
And last but not least: what can be said about the large proportion of nonperforming loans saddling the balance sheets of Greek banks, which is more likely to have risen than declined given the bleaker economic outlook for Greece? BIS central bankers’ speeches  1  Even after Monday’s agreement, none of these questions can really be answered with any degree of satisfaction.