Our aim was not to change our monetary policy, which is to maintain price stability for our 330 million fellow European citizens. Inflation is a tax on the poor and most vulnerable. Q: So the ECB isn’t there to mop up the reckless spending of Member States?
Italy is a case in point, as I will discuss later. In the short run, they affect and are affected by business cycle fluctuations and financial shocks. At this moment in time, after years of recovery, economic growth is slowing down somewhat all over the world. Forecasts made by international organizations are currently reflecting the decline shown by conjunctural data.