I trust the EP will use the review clause included in the package to enable further enhancements to the euro area economic governance that will contribute to a smoother functioning of EMU, for instance by introducing greater automaticity. In my view, more fundamental deepening of fiscal and economic policy surveillance is necessary in the long run.
With this purpose in mind, a number of actions and strategies can be harnessed. Among these, it is worthwhile noting that notwithstanding the significant progress achieved over the last years in terms of the definition, standards and best practices in relation to green activities and finance, additional efforts in this direction are needed, with particular attention towards their improved adoption, compliance and monitoring.