We have definitely not exhausted all our options. We have scope to take further action, and we will take further action should it become necessary. But it’s also clear, as I said, that the negative side effects are becoming ever more pronounced.
What’s more, in the current environment, with interest rates very low for longer, fiscal policy would have a much bigger impact on the economy than would otherwise be the case. In an emergency, would helicopter money be an option for the ECB, meaning that the central bank would give money to euro area citizens? Helicopter money is not something we are considering.