And to get talent in specialized areas like project evaluation, risk management, and IT, they may have to hire laterally in small doses. While contractual hires are currently permitted, better personnel would be attracted only by a strong prospect of career progression internally. Banks will have to think about how to enable this.
  The interest rate decline in the countries at the periphery of the European Union was an important factor for their impressive catching-up process, but also the source of mounting internal and external imbalances. Unsustainable labor cost developments and widening external deficits are clear indicators of losses in competitiveness.