An effective way of achieving this is to implement strong national budgetary frameworks in the euro area Member States. 8  BIS central bankers’ speeches  Another important area of reform, at the global level, is the reform of financial governance. I have to say that on financial reform we have made more rapid progress.
5 The good news about innovation in the mortgage, mortgage insurance, and home equity markets is that people have greater choice in financing. But individuals need the financial literacy and all the relevant information from those selling mortgage products to make the choices best suited to their circumstances.