The current situation has compelled many central banks take a more encompassing view of their mandate in relation to the fiscal authorities. In particular, there are major difficulties in the euro area in this respect, though the debates are also visible in other countries, for example, in the UK and the United States.
Looking back over the past three years, South Africans are grateful for what has already been achieved, but are at the same time realistically aware of the challenges that must still be met. South Africa is indeed at this stage a country with many opportunities, but also with some urgent concerns. BIS Review 66/1997