I think the responsibilities for the problems we have are collective. I think everyone has to look from the point of view of the other. Don’t forget, a lot of excess German savings went to Spain, to the Spanish banking system. I don’t deny that the problem in creditor countries gets worse in some respects the lower we cut the deposit rate.
Optimising the design and implementation of each of these measures is a key priority and one on which I will speak further over the coming weeks. For today, though, I want to concentrate on how we can help bring the public finances back to a sustainable position. This can be done, and it does not require reinventing the economy.