This should also help ensure that national deposit guarantee schemes have sufficient funds for the time being. Conclusion Viewed from a historical perspective, banking union is being established very quickly, which is good news.
He argues that the success of such strategies in stabilising inflation expectations at a low level is not yet fully understood from a scientific perspective. His claim is, therefore, that monetary policy is ahead of economic science in that respect. Let me be clear on these points. There are indeed limits on the extent to which policy judgement can be based on science.