One school advocates easing of fiscal policy on the grounds that the economies are still too fragile to stand on their own two feet. The other school advocates fiscal tightening on the grounds that increased indebtedness will only make the households hold back.
Last, but certainly not least, the ERPB extended the mandate of its Working Group on payment initiation services to follow up several common requirements related to operational and business elements, which together are the other pillar of successful PIS. I appreciate the commitment that the banks have shown to this important task and expect to complete the work by June 2018.