Wrapping up, these are the principal takeaways from this presentation. Firstly, financial innovations can bring benefits for the real economy – for instance, by boosting global trade. Secondly, new players in the financial markets create additional competitive pressures for commercial banks.
According to the Organisation for Economic Co-operation and Development (OECD), general government deficits in 2007 were less than 4 percent of GDP in the United States and the United Kingdom, about 2 percent in Japan, and less than 1 percent, on average, in the euro area.