Share in euro area GDP

Banking and government risk measures

Growth by creditor and debtor countries

Total central bank liabilities

Public gross debt and deficits

Potential gains from broad reform package

Net foreign asset position

Current account balances

Bilateral consolidated banking claims

Growth of MFI loans to non-financial corporations

Post-crisis changes in demand

Net foreign asset position and net public assets

Central bank liquidity to national banking systems

Bank holdings of sovereign debt

Trend GDP is expected to slow

Growth drivers in the euro area

Capital accumulation

Potential gains from broad reform package: Ten-year horizon; levels, in per cent

Euro area debt-to-GDP ratio under stylised reform scenarios

Simulated short-run effects of structural reforms

Impact of structural reforms

Changes in saving-investment gaps in a reform scenario

Unit labour cost developments

Investment volumes