With the pandemic, I’m confident that we will achieve both sooner—perhaps by the end of 2022. Amid quarantine measures, we have seen an exponential increase in the use of e-payments platforms Instapay and Pesonet. We have launched mobile apps for savings and investments—including those that allow people to invest for their retirement and to invest in Retail Treasury Bonds (RTBs).
Beyond rules and institutions, another way of preventing competition from drifting into destructive rivalry is to delegate some policy areas to the EU level. I can think of several aspects of financial markets which would benefit from this kind of delegation, which – in the absence of a treaty change – would need to be taken by unanimous decision.