Over the longer term, however, persistently high budget deficits and rising debt-to-GDP ratios will come into conflict with the ECB’s monetary policy, which is committed to the objective of price stability. Unfortunately, fiscal developments in the euro area continue to be, on average, far from satisfactory and, in several Member States, disappointing.
The regulatory sandbox framework released by the Reserve Bank in August 2019 was intended for the purpose of fostering innovation. The response to the regulatory sandbox has been encouraging to say the least. An Interoperable Regulatory Sandbox (IoRS), to facilitate testing of hybrid products/ services falling within the regulatory ambit of more than one financial regulator is in place.