First, the contracts could be entered into as part of a concerted national reform effort, rather than being seen as an imposition from “Brussels” in the context of the EU procedures like the European Semester. Second, reform commitments could potentially be more precise, measurable and binding in the contracts than under those existing procedures.
At the European Central Bank, you want to tackle climate issues, which is something new. You have mentioned the “danger of doing nothing”, so, in a nutshell, what will you do?