First, until financial markets have been stabilized, maturing deposits will be rolled over but for shorter periods and second, we will aim for further diversification among banks (within our approved guidelines), even at the risk of lower returns. I would just make this brief comment on the HSF.
Indeed, if potential growth in the euro area had carried on rising at the same rate as in 2007, potential output would currently be more than 4% higher. But low potential growth also has important implications for monetary policy. Let me highlight two that are particularly significant.