I will argue now that the increasing interdependence among euro area economies, combined with the need to raise the level of economic performance while  BIS Review 89/2008  7  addressing excessive differentials in inflation, growth and competitiveness, requires sound economic management. Let me now stress the importance of four guiding principles in this respect.
Important regulation has already been launched to help reap the benefits made available by digitalization. New legislation needs to be technologyneutral. To safeguard the benefits, regulation also needs to keep pace with the potential new risks. But therein lies a challenge: the speed of development has become so fast that it may easily exceed the speed with which regulation can adapt.