We are committed to using our full range of tools to support the economy and to help assure that the recovery from this difficult period will be as robust as possible. Thank you. I’d be happy to take your questions.
Just as euro-area monetary policy cannot be focused on the requirements of individual countries, it is not its responsibility to guarantee savers a certain nominal rate of return either, especially since monetary policy is not the only reason why savers are hardly earning any interest. The low interest rates are also the result of weak growth in the euro area.