First, as you certainly remember, the Single Supervisory Mechanism (SSM) became operational in November 2014. Accounting information forms the basis for various elements of prudential regulation and supervision. As already highlighted in an ECB report published in December 2006, a harmonised and comparable accounting framework is an important element for consistent supervision.
The pamphlet raises the spectra of inflationary expectations which could lead to wage pressures and perpetuate inflation. There is a passing caution against resorting to price controls, which carry their own problems. The fact is that the only way to address our inflation problem is the old-fashioned way – through increasing agricultural output, tight monetary policy, greater fiscal restraint and wage discipline.