I’m thinking particularly about the decision on Outright Monetary Transactions (OMTs) that we took in September 2012 to protect the euro area from speculation that could have forced some countries out of the single currency.
BIS central bankers’ speeches  1  Policy during the recovery The combination of increasing debt and depressed output led to rising ratios of debt to gross domestic product (GDP) in many advanced economies and heightened concern about whether the growth in debt could be sustained without unsettling financial markets.