Of course, changes to the monetary policy framework need not be limited to the choice of policy instruments. The exact design of the rest of the framework – the inflation objective or target and the choice of information variables – is also likely to be reconsidered and changes are possible.
L'Europe – these are the words of Schuman – ne se fera pas d'un coup, ni dans une construction d'ensemble. Elle se fera par des réalisations concrètes, créant d'abord une solidarité de fait. Europe will not be made all at once, or according to a single plan. It will be built through concrete achievements, which create a de facto solidarity.