Again, this is not about all countries adopting a single model. It is about each Member State adopting a model that delivers the right outcomes while allowing them to find and exploit their comparative advantages in the Single Market and in Economic and Monetary Union.3 The European Union actively supports governments in their efforts to allow productive firms to thrive, also here in France.
F.  Combined use of two policy tools  It is my understanding that an unconventional policy such as the asset purchase policy implemented under QQE is effective as a temporary tool to generate upward momentum in economic activity and prices and affect the direction of such momentum under the zero lower bound on nominal interest rates.