Nonetheless, the outcome of our proceedings does not have such a direct impact on our counterparties’ preparations for Stage Three as the operational framework. Moreover, another reason for not yet having taken definite decisions regarding the monetary policy strategy is that the matter requires very thorough consideration. The Governing Council has already started with this discussion which will continue for some time.
I can assure you that there are no fundamentally diverging opinions within the Governing Council concerning the orientation of our future monetary policy strategy. In this context, allow me to remind you that the EMI had already achieved a broad consensus regarding the monetary policy strategy.