From the outside, analysts are seen to be imagining scenarios in which there is an explosion of the euro area. That underestimates the political capital that our leaders have invested in this union, as well as the support of European citizens. The euro is irrevocable! Having formerly worked for Goldman Sachs, what do you think of the Libor scandal?
However, further refinements to the draft Constitution are possible, and the ECB has made several suggestions. For example, we strongly believe that price stability should be added to the list of the Union’s objectives set out in the first part of the Constitution, as price stability is of great importance not only for the ECB but for the Union as a whole.