Another aspect about these disputes actually relates to the banks. These disputes are related to non-updation of data and/ or incorrect submission of data by member banks. In many of these cases, the CIC has not been able to receive timely response from the banks even after following up regularly. This causes significant delay in redressing the customers’ disputes.
This is the third phase, which I called ‘rebuilding resilience’. In this phase, which I am happy to discuss in more detail at some later Eurofi event, we will have to focus on further improving the growth potential of the European economy. We will have to bring government debt on a path to more sustainable levels.