Therefore, banking supervision in Germany does not actively intervene in banking activities, i. e. by making specific recommendations. • From the central bank's perspective, I would like to stress that it cannot be the task of a central bank to bail out insolvent credit institutions. The Ministry of Finance would be responsible for that, if tax revenue were required for assistance measures.
But there has been a clear difference in the pace of convergence.2 Countries that have joined the EU, and which are hereafter referred to as the central and eastern European (CEE) economies,3 reached GDP per capita levels of 70% of the EU average.