While sometimes implying short-term costs from uncertainty, especially when the measures are not implemented in a resolute fashion, in a longer perspective, the positive impact of well-designed structural reforms on growth and on job creation is very significant.
If these expectations are not fulfilled, they experience a shock. And there was a risk of that occurring in the euro area, because deflation means less growth and lower income. The ECB is doing all this solely for the benefit of crisis countries, i.e. Italy and co. No, we work for the euro area as a whole.