The third exit solution proposed in the literature is the use of capital controls that would restore independence to national monetary policy, so that real equilibrium interest rates could differ across countries. For those with a positive real rate, capital controls would avoid the fall into the LB.
Europe can count on the ECB and on the Eurosystem to implement in this century the historic task which was assigned to us at the end of the last century. We will be faithful to the primary mandate given to us by the Treaty. We know that our fellow citizens are asking us to deliver price stability.