As I said in my last press conference the Governing Council is in a position of strong vigilance to ensure that risks to price stability over the medium term do not materialise. Our credible alertness will be as effective in the future as it has been in the past.
Financial integration enhances the smooth and effective transmission of monetary policy impulses throughout the euro area and, via its effects on financial development and modernisation, ultimately contributes to increasing the euro area potential for stronger lasting non-inflationary economic growth.