The key question is what is driving inflationary dynamics and what can we reasonably expect in the short to medium term. Having reached highs of 5 per cent in December,4 inflation across the euro area is expected to remain elevated in the near term.
By May 1993, the Corporation would oversee the closure of four more failed institutions. Nonetheless, the DIC managed to successfully discharge its mandate and to contribute to depositor confidence in the safety of their funds held in member financial institutions.