The ECB has emphasized that fiscal policies should support the economic recovery while remaining in full compliance with the EU’s fiscal rules. Otherwise, credibility in the fiscal framework cannot be maintained. A critical question, therefore, is whether the prevailing rules could be barriers to achieving the desired coordination of monetary and fiscal policies.
BIS central bankers’ speeches  1  The Committee next turns to the second go-round, which focuses on policy. Again, the staff begins, with a presentation of policy options. After that, each of the 17 meeting participants has a chance to speak on what each views as the appropriate policy choice.