In Europe, this will be the task of the European Systemic Risk Board, which was set up in January this year. Together with such steps on the analytical front, it will also be necessary for societies as a whole to consider whether or not to take preemptive measures for tail risks.
Let me report on the outcome of our meeting, which was also attended by the President of the Eurogroup, Prime Minister Juncker, and Commissioner Almunia. At today’s meeting, we decided to raise the key ECB interest rates by 25 basis points.