Despite the challenges which the country is currently facing, these achievements, among which was the early establishment of macro-economic policy credibility, are still being built upon, and the National Development Plan (NDP) which Minister Nene has just talked about in detail, provides a framework for ensuring further progress towards a more successful and fair economy.
Obviously, there is still a long way to go. We have to think about how the person who manages the budget (let’s say, the “finance minister” of the euro area) would be monitored by the national parliaments and/or the European Parliament. The ECB cannot answer  6  BIS central bankers’ speeches  questions like that.