In this sense, it is vital for the financial system to maintain stability and fundamental strength so that it can adjust to future changes in the situation and respond properly to the increased demand for funds. The Bank regularly examines the conditions of the financial system.
Last year, Luxemburg’s Gross Domestic Product expanded by 3½ percent – compared to an average of 1.7 percent in the European Union. The global financial crisis, nonetheless, will leave a lasting imprint on the Luxembourg economy. Global trends increase competition Even before the outbreak of the crisis in the summer of 2007 the worldwide scenery of international financial centers was in motion.