One is that it’s a form of a credit enhancement in the bonds issued by the country that applies for OMT because the more it will comply with conditions, the more creditworthy will be its bonds. The second reason is that with any type of intervention, moral hazard has to be avoided and fiscal discipline, in particular, has to be ensured.
That’s why conditionality is crucial, but it is only a necessary condition because in any event the Governing Council assesses independently the state of monetary fragmentation. Let’s not forget our objective is fight financial fragmentation and deliver price stability. FT Let me just go back to the political element.