Investors’ concerns about fiscal deficits and the levels of government debt in a number of European countries have led to substantial increases in sovereign borrowing costs, stresses in the European banking system, and associated reductions in the availability of credit and economic activity in the euro area.
Many people believe that it is not a democratic institution… The best way to respond to Euroscepticism is to create growth. I repeat, we are using the tools at our disposal to work towards this. Everyone should do likewise. The ECB is a European institution that has been given certain duties to perform, within a democratic framework.