If we would let inflation emerge against the interests of younger people, against the interests of workers, against the interests of the least fortunate segment of society, we would also create an obstacle to sustainable growth and job creation. I feel very strongly about this. The Treaty was well written.
With this in mind, the ECB and the Bank of England are suggesting to revise the European rules on ABS. How? The European regulators are discussing this because the euro area needs these instruments. It’s a medium-term project whose purpose must not in any circumstances be to recreate the securities market as it existed before the crisis.