But any analogy to stock market pricing behavior and bubbles is a rather large stretch. First, to sell a home, one almost invariably must move out and in the process confront substantial transaction costs in the form of brokerage fees and taxes. These transaction costs greatly discourage the type of buying and selling frenzy that often characterizes bubbles in financial markets.
I’m just saying that we need continued implementation of what was agreed in the memorandum, nothing more. Labour market activation policies? That kind of stuff? Exactly. Turning to the banks, how crucial is for them to bite the bullet and use their capital buffers to confront the question of loan losses? Banks have to navigate between different constraints.