As General Eisenhower once said: “In preparing for battle I have always found that plans are useless, but planning is indispensable”. When combating the crisis, models are sometimes useless, but modelling is indispensable. I thank you for your attention. BIS central bankers’ speeches  5
The proposals that we have seen in Brussels do not go far enough in the ECB’s view. As I have said before, we need to make a quantum leap in our economic governance. We must achieve a framework where each and every country respects the principle that a successful economic and monetary union is based on sound macro policies.