Recent and future developments in the Euroland and Greek financial sectors

Abstract

Recent technological advances and changes in the political and macroeconomic climate have inevitably changed the traditional features of the bank sector. Thus it is necessary for banks to adjust their services and products in order to achieve competitiveness in this new banking era. Competition is continuously increasing and banks will have to develop and include in their activities the majority of new financial instruments which have arisen from the newly emerged financial sector. Therefore it is quite clear that in the near future we will see the implementation of new technologies in the banking sector which will lead to differentiated objectives and further consolidation of the sector.