I travel a lot around Germany and talk to people and hear that we at the ECB are doing too much, exceeding our mandate. Someone even took us to the Constitutional Court on that. In Italy, people ask: why don’t you do more?
I take note of both perceptions, but we do what is needed to ensure price stability in the euro area as a whole. We are the central bank to all 17 countries. Lack of growth remains a huge issue. Where will growth come from in the euro area? In the second quarter the euro area came out of recession after six quarters.