Before handing the floor to them, let me say a few words about the current situation in the euro area, about our perspective at the European Central Bank (ECB) on today’s topic and about longer-term issues for the euro area. In terms of the current situation, the euro area economy is still in a phase of adjustment.
Policy responses to financial and economic developments and their implications for small business credit access I would now like to turn to a discussion of the policy actions that the Federal Reserve, the Congress, the Treasury, and other government agencies have taken in recent weeks to address the overall functioning of financial markets and the weakening of economic activity as well as how these policies should assist small businesses going forward.