They see the debt burden as being lighter than it would be in a “normal” interest rate environment. Compared with the interest rate level back in 2007, euro-area countries have altogether saved almost € billion in interest from that time on, which is virtually on a par with Spain’s annual GDP.
So it’s now our duty to nurture and sustain this trust – by ensuring that banknotes are secure, payments systems are robust, and the value of the euro is stable. Thank you. 2/2  BIS central bankers' speeches