2  BIS central bankers’ speeches  What do these differences imply for responsible innovation and regulation in the financial sector? 14. That takes me to my second question: what do these differences that distinguish the financial sector mean for responsible innovation and regulation? Let me try and address that. 15. One of the fundamental assumptions of economics is that human beings are rational.
At the end of last year, household debt was equal to 41 per cent of GDP, as against 61 per cent in the other euro-area countries as a whole; the value of savings, of which more than 60 per cent in real estate, was more than eight times that of income, compared with an estimated seven times for the rest of the area.