These include how to set policy in a world of possibly permanently higher levels of public debt, and the appropriate design of Europe’s fiscal framework. Since restarting our strategy review, we have introduced a new work stream on monetary-fiscal interactions precisely to address such questions. Conclusion Let me conclude. Today I have laid out some preliminary considerations that are guiding our strategy review.
At this stage, it is too early to draw any firm conclusions. Rather, I have attempted to identify some of the key issues the Governing Council will aim to address.