Depending on the nature of the fintech activity, those responses may need to encompass prudential, consumer protection and other regulation – but, at the same time, they should not hamper healthy developments. Conclusions Allow me to conclude. The euro area economic outlook is improving and downside risks are moderating.
However, these positive signs should not distract from the need for firmer and higher structural economic growth. In this context higher productivity growth is needed. And that productivity growth requires innovation. Structural reforms are essential to create a business environment that is conducive to innovation and a regulatory environment that adapts accordingly. Both national and European level initiatives can contribute to this effort.