As our mandate is requiring, and as our fellow citizens are asking us, and they are very keen on asking us to deliver price stability. This is necessary for sustainable growth and sustainable job creation. And that is the reason why we recommend not only towards the social partners but also price setters to strictly avoid those second round effects.
The report highlights that inappropriate cultures were a significant factor not only in contributing to the financial crisis but also in the tracker scandal. The report also underlines that the development of consumerorientated cultures is far from complete, even if progress has been made (albeit unevenly across banks) to prioritise the consumer interest in strategy, decision-making and procedures.