Let me finally say that I am hopeful that the publication of macroeconomic forecasts will improve the presentation and explanation of monetary policy decisions to the public. By publishing an important input into the decision making process, the considerations facing the Governing Council when taking a decision should become clearer to the public.
The ECB shares the view that this should be the most important ultimate objective of policy-makers in Europe. Enlarging Europe's growth potential is the main yardstick for evaluating the pros and cons of different policies.