So a sensible policy should strike the right balance between short-term and long-term tools, as they can be substituted one for the other. Before I get into these topics, I will begin with an overview of the state of the economy. A. State of the economy  The Israeli economy is today in a very good state, even after the war.
At the Central Bank of Ireland we are very committed to ensuring that the appropriate regulatory framework is in place for Hub and Spoke operations and that our supervisory resources are adequate to the task of overseeing such operations. It will be interesting to see whether this model will grow as Solvency II gets closer to implementation.