*  *  *  The ratification of the new OECS Economic Union Treaty on 21st January 2011 signifies both a new beginning and a potential turning point for the small states of the Caribbean.
Second, euro area banks saw their return on equity decline from over 5% in the fourth quarter of 2019 to just slightly above 2% in the second quarter of 2020. This trend was predominantly driven by banks making higher loan loss provisions and having less capacity to generate income.