2  BIS central bankers’ speeches  our monetary policy can only be ensured by reducing spatial fragmentation within the monetary union.3 The type of liquidity provision that I have described thus far does not represent a nonstandard measure per se. Supplying liquidity to banks is obviously a standard activity for central banks.
Barriers to market entry  However, in the services sector barriers are not just at the European level. In Germany, they also exist for business start-ups in the form of red tape – things like mandatory administrative formalities, approval periods and fees incurred. In the World Bank’s Doing Business table, Germany ranks 114th in the “ease of starting a business” category.