DLT is a focal point in FinTech as its perceived opportunities are the key motivation for market participants, infrastructure providers and central banks to explore the technology. In our reflections around DLT, we need to bear in mind that the possible impact of DLT depends on how market players ultimately decide to embrace it.
Growth moderated further in the first quarter of 2013 when it measured 0,9 per cent, the lowest growth rate since the 2009 recession. Furthermore, employment is still below levels attained before the crisis. The combination of lower competitiveness and declining terms of trade led to a widening of the current account of the balance of payments.