Very low  3  The consolidated government balance, as a percentage of GDP, moved from a surplus of 1 per cent in 2007/08 to a deficit of 3,9 per cent in 2014/15. 4  Over the period, total gross loan debt as a percentage of GDP rose from 26,6 per cent in 2007/08 to 46,2 per cent in 2014/15.
The ECB supports the EU-US Financial Markets Regulatory Dialogue and believes it can serve as a forum where solutions to important regulatory issues on both sides of the Atlantic can be sought, such as accounting standards, the revised proposal for de-registration of foreign firms from US markets, and the recent announcement regarding the cooperation between the United States and the EU in audit oversight.