Credit unions have helped their members to develop a healthy savings habit, educated them on financial matters and financed small business start-ups, all while experiencing considerable turbulence and consolidation. You have propelled the ideals of financial inclusion as well. These ideals are what you live and breathe every day.
As before, these policies should be focused on maintaining fiscal sustainability, price stability and financial stability, which should help limit boom and bust cycles in the future. We need sound fiscal policies supported by credible fiscal rules. In Europe, the Stability and Growth Pact provides a rule-based framework based on reference ratios for fiscal deficits and public debt in terms of GDP.