And from the beginning, there was a broad consensus that it would be in everyone’s best interest not only to preserve but indeed to strengthen cooperation with each other.
Essentially, some interpret the ongoing risks for the euro area as a sign that we are approaching a stalemate situation, where self-recovery potentials in the financial system will be exhausted – as will options for action. In this situation, the reasoning goes, would it not be better to compromise on short-term oriented “flexible” measures – however counterproductive in the medium and long term?