“IIF Capital Flows User Guide,” IIF Research Note. BIS central bankers’ speeches  3  These weaknesses are amplified by the fact that during the last few years, the ratio of accumulated total public-sector financial requirements to GDP has consistently increased.
By acting in accordance with our mandate, namely to support activity to bring inflation back in line with our medium-term objective, the ECB is in fact also providing space for euro area governments to carry out the necessary structural reforms. It is a window of opportunity they should seize. Conclusion Let me conclude.