The ECB’s high level of credibility and its stability-oriented policy have contributed to the very favourable financing conditions observed over the past few years for investors. They have also preserved the purchasing power of consumers, which is of greatest importance for all people and especially those with low incomes. It is essential that this important asset of the euro area economy is preserved.
Amando M Tetangco, Jr: Effective lending to SMEs in the Philippines Speech by Mr Amando M Tetangco, Jr, Governor of Bangko Sentral ng Pilipinas (the central bank of the Philippines), at the launch of the 2012 RCBC SME Initiatives, Makati City, 16 May 2012.