Conversely, the negative consequences of bad policies can be better externalised to the rest of the currency area, thereby undermining incentives for sustainable policies. To mitigate this risk, precautions were taken in the form of fiscal rules, the no-bail-out clause and the prohibition of monetary financing.
Hindi ko pa nga alam ibig sabihin ng iHRIS, may bago na! Pero alam ko yung ibig sabihin ng IHRIS, what it refers to but not the individual letters. (I don't even know what the iHRIS acronym stands for and we're already developing a new system!