BIS Review 2/1998  -5-  Personalities The ECB Statute does not seek to establish a currency standard excluding all and any room for discretionary manoeuvre. Consequently, a role will be played by the personalities responsible for formulating and implementing monetary policy. That applies especially to an institution which is completely new. Public controversies about the filling of top posts damage credibility.
If we remove the mandatory savings through FNPF, our saving rate is even lower. For investment to happen, we need to generate more savings. Successful countries are normally associated with higher savings rate; and  2. Two, it directly promotes more investment by giving the one borrowing the money alternative sources of funds.