In his “Principles of economic policy”, he uses the example of an economic order with private property and a centrally  BIS central bankers’ speeches  1  controlled economy to demonstrate what happens when liability and control (steering power) drift apart. Given the institutional framework of monetary union, this problem is still highly topical, and I shall revisit it later on.
Aiming to further boost the standing of Lithuania as a FinTech hub, we are actively expanding our network of cooperation with foreign regulators. For instance, the Bank of Lithuania has signed FinTech cooperation agreement with the Monetary Authority of Singapore.