Communication lines, roads, bridges and airports… these are the kinds of investments that affect the quality of growth and define our competitiveness. Second, financial stability. Through the crisis, we managed continued real GDP growth because our financial markets were broadly in order. This is why financial stability is now the overarching policy issue.
The ECB did not have to implement any measures as regards the range of eligible collateral, because it already accepted a broad range of collateral and it granted a large number of counterparties access to the refinancing operations.