In addition, though from a theoretical less radical point of view, market participants often criticise that the contribution of the monetary analysis to the decision-making process of the Governing Council is not as obvious as it should be.
Reforms for resilience  Ladies and gentlemen The reforms laid out so far, together with other widely discussed structural measures and sound public finances, would allow the euro-area economy to shift gears and accelerate. But they do not in themselves guarantee that the engine will run more smoothly and reliably. This is where reforms addressing the euro area’s institutional architecture come in.