It has launched targeted lending, many innovations. Even this year, in the summertime we clarified that the inflation rate of 1.6 is too low, so the discussion now is much more precise. We do not find it acceptable to have inflation around 1.6. So 1.6 is not close to 2. That is important.
With OMTs, however, it is not a matter of aligning the financing conditions of the Member States of the euro area. OMTs do not aim to ensure uniform interest rates in the euro area. In a functioning market, risks are properly priced. OMTs should change nothing in that respect. Therefore, fundamentally justified interest rate differences or default risk premia are not the focus.