Do you sometimes think that you are the public person that in Germany is the least understood? I think that’s true... Whose fault is this lack of understanding: Germany’s or Mario Draghi’s? My position is actually quite simple: we have the mandate to guarantee price stability. The ECB was established in the tradition of the Bundesbank.
At all events, I can well recall headlines announcing the ‘end of the business cycle’ and predicting the arrival of the ‘new economics’, which probably referred to the theory of continuing progress in productivity or even the end of the economic problem of supply and demand itself.