FT I’m going to explore this crucial approach, which you adopted on OMT and which you clearly said, one, that it would be conditional. And, two, that you were acting within the ECB mandate.
But before I do that, I just want to turn the reel back to when you started and ask you about strategy, because it seems to me that you have had a strategy. You may not have been convinced that you could save the euro, or, at least, re-launch the euro, but you had a strategy. Is that right, or have you more improvised?