Second, we have also been told that banks have observed their deposits flowing to nonbank crypto-asset firms and, understandably, would like to stem that outflow by offering the services themselves. I certainly recognize and appreciate these challenges. But before a bank begins to engage in or offer crypto-asset-related services, it must seriously and carefully consider the risks involved—both to the bank and its customers.
Euro area GDP increases by as much as 12.4 % in the case presented in the last column of the table. The product market reform has greater effects than the labour market reform, particularly on production and investment. Regarding employment, the effect of the labour market reform is almost as large. Outside the euro area, there are some positive spill-over effects.