The crisis has also spurred discussions on how to better bring the financial sector back to its core mandate: being at the service of the real economy. I strongly believe that more can be done to unlock affordable financial resources for European SMEs. As 99.7% of firms in the EU are SMEs, euro area economies’ well-being is intertwined with the financial health of SMEs.
BIS Review 96/2007  1  In the view of the Governing Council, the ranges presented serve as a good reminder of the general uncertainty surrounding economic projections, which it is worthwhile emphasising given the current volatility in the financial markets. The risks to these projections for economic growth are judged to lie on the downside.