According to the Central bank, capital flows to the Eurozone periphery bounced back – the regulator states that capital inflow rose to 100 billion euro at the end of 2012. Such improvement was buoyed by aid programs to the teetering countries of the Eurozone. During the last 4 months, capital inflow totalled about 9% of GDP in Spain, Italy, Portugal, Ireland, and Greece put together.
The experts believe that such dynamics reflects enhanced faith in the resilience of the European economy by investors. In particular, Mario Draghi's pledge to do whatever it takes to save the Eurozone played an important role.
Draghi said that markets are experiencing “relative tranquility” as considerable improvements can be noticed compared to 2012.
Meanwhile, capital inflow is less than outflow registered at the beginning of 2012. During the first 8 months of 2012, capital outflow reached 406 billion euro which makes up 20% of GDP of peripheral countries. In 2011, the indicator was somewhat less – Spain, Italy, Portugal, Ireland, and Greece lost 300 billion euro.