These proposals put the shine back on the principle of individual fiscal responsibility – which is the key feature of the Maastricht framework. At the end of the day, any proposals on the future direction of monetary union need to be assessed according to how they impact on the necessary alignment between actions and 7/9  BIS central bankers' speeches  liability.
The aim of NPIP is to develop a strategy for the future payments infrastructure in Ireland that will be inclusive of, and deliver efficiencies to, all sectors of the economy. The active involvement of all of these constituencies is indicative of the importance being attached to developing Ireland’s payments infrastructure.