Since the introduction of the euro, the economically important member states of France and Italy have exceeded the upper public deficit limit of 3 % of GDP in nine out of 15 years. Germany, meanwhile, has had seven “entries in the class register”. And as for 2014, we expect six out of 18 countries to exceed the limit.
Following the guidelines, commercial banks have actively innovated financial products and improved operation mechanism and services, yielding positive results. This year marks the last in the 11th Five Year Plan. What’s more, it is a critical year in mitigating the impacts of the international financial crisis and maintaining stable and fairly rapid economic development.