This in turn requires a broad range of measures usually comprising growth-enhancing structural reforms, fiscal consolidation, restructuring of the domestic banking sector and balance sheet repair. But such measures are likely to prove challenging and politically costly to implement.
And I would like to emphasise that this decision was unanimous. The Governing Council is united by a common purpose. We are carefully monitoring the situation and we stand ready to do whatever is necessary to fulfil our mandate – just as we have done over the past twelve and a half years.