The latest available data indicates that terms are being met for 88% of this more recent wave of restructures – much higher than what was being experienced with earlier restructures, most of them offering only very temporary relief.
In a period of low inflation, the effects of exchange rate developments are closely monitored. What should be done to weaken the euro further? Another reason why the euro is at this level vis-à-vis the US dollar is that the euro area has recorded large and growing current account surpluses – [Editor’s note: forecast at € billion for 2014]. This is new.