Bank deposits as a medium of investment, and bank credit as a source of finance, predominate in Japan. Investors and financiers in the USA clearly prefer the capital markets. The euro area is claiming the middle ground, with a certain tendency towards a more market-centered system. Economic and financial integration is deepening fast. International trade has grown considerably during the last couple of years.
I must admit – this time we are acting in a pro-cyclical manner. The Bank of Lithuania was able to save money by not having to rent a separate physical space for the conference. However, this also means, of course, that the commercial real estate market and, perhaps, some of the conference participants or attendees have lost some of their income.