In order to cope with the special situation of the Euro area and with uncertainty in general the Eurosystem applies several instruments, which are either substitutes or complementary to each other. To start with, a solid foundation for monetary policy was created.
The detailed and published monetary policy strategy reduces the uncertainty on behalf of the public concerning the objectives and behaviour of the Eurosystem. As I have just explained the Eurosystem tries to achieve the highest possible reliability by means of a clear objective and a high degree of transparency and accountability.