Beyond the minimum requirements for budgetary frameworks proposed by the Commission, it is essential to introduce rules-based, medium-term frameworks and establish independent national institutions assessing fiscal policy. Implementing the most ambitious reforms possible under the current Treaty is in the deepest interest of the euro area countries. BIS Review 135/2010  7  5. Conclusions  Let me conclude.
If I were to summarise the key lessons of the global financial crisis that I have been talking about today, I would emphasise three main points: Firstly, a very profound transformation of economy and finance at the global level has taken place over the last thirty years.