ocp192_en

Occasional Papers are written by the staff of the Directorate-General for Economic and FinancialAffairs, or by experts working in association with them. The Papers are intended to increaseawareness of the technical work being done by staff and cover a wide spectrum of subjects. Viewsexpressed in unofficial documents do not necessarily reflect the official views of the EuropeanCommission.Comments and enquiries should be addressed to:European CommissionDirectorate-General for Economic and Financial AffairsUnit CommunicationB-1049 BrusselsBelgiumE-mail: ecfin-info@ec.europa.euLEGAL NOTICENeither the European Commission nor any person acting on its behalf may be held responsible forthe use which may be made of the information contained in this publication, or for any errorswhich, despite careful preparation and checking, may appear.This paper exists in English only and can be downloaded fromhttp://ec.europa.eu/economy_finance/publications/.More information on the European Union is available on http://europa.eu.KC-AH-14-192-EN-N (online)ISBN 978-92-79-35376-5 (online)doi:10.2765/74796 (online)KC-AH-14-192-EN-C (print)ISBN 978-92-79-36119-7 (print)doi:10.2765/77940 (print)© European Union, 2014Reproduction is authorised provided the source is acknowledged.