As we now know, central banks that kept trying to pin down the rate of unemployment wound up with both high inflation rates and high unemployment rates. This was a lesson that would not be lost on subsequent generations of central bankers.
REACH was this legislation that actually helped better regulate chemicals that could be dangerous for people. There are a lot of goods that are used on a daily basis around the world that are safer because of that Directive. So in that sense, Europe – which is often criticised for being too bureaucratic, too government-intensive – is also helping people.