Unemployment is high, while there is a need for investment in infrastructure, new technology  3  Data from CEIC Data Company, which uses China Iron and Steel Association (CISA) as its source. According to CEIC, debt-to-equity ratios at these companies are around 70 percent, up from 50 percent in 2001. BIS central bankers’ speeches  3  and education. There are also many advocates of investing in a “green” shift towards sustainable growth. But investment is not forthcoming. In the light of the pessimism now holding sway in Europe, this is perhaps not surprising. As Keynes wrote in his letter in 1932: “.... the [released] real resources do not find a new home waiting for them. In present conditions their entry into investment is blocked by lack of confidence.” Keynes would have said that this is the time to deploy public investment to create jobs for idle labour. The cost to society would be low. Wages would replace expenditure on benefits and social security. Value-added would be generated, unemployment would decrease and employment would rise. This solution seems obvious. But it is not happening. In southern European countries in particular, government debt is high and growth is low. Future public funding is tied up in servicing debt and funding public services and pensions. Public administrations are cumbersome, inefficient and often over-staffed. The willingness and ability of governments to increase taxes, and perhaps the public’s confidence in the authorities, is low.
The challenge to the banking system and businesses, but also to the Bank of Albania, still remains the public encouragement to use them. So, to put this into practice, I shall stimulate the banking system to become more active, that is banks should provide to the households and businesses clear and ready products, quick and efficient services. Given the latest developments in the banking system and the increasing number of the branches as well as the increasing banking services, I advocate the banking system will be more attractive in 2005. I consider the optimistic signals of the previous year will be followed by more vigorous operations of the banking system related to the business of electronic card payments. In this spirit I would say that banking system solutions properly consist in issuing a unified card. Evidently, steps to be taken in this direction will be more complex, and naturally some of them imply inter-institutional cooperation. Bank of Albania is already paving the way toward wider use of cards in Albania. Credit cards service shall not only contribute to cash reduction in the economy, but also provide a positive impact on the reduction of informal economy. However, I deem as important encouraging and  BIS Review 6/2005  1  stimulating the banking system in order the service level be uniformly present all over the Albanian territory where banks conduct their activity.