Again, a follow-up question: what will happen if Europe slips back into recession, with the interest rate level not having risen sufficiently for interest rates to be lowered again. What can the ECB then do? In theory, it would then be the turn of fiscal policy. I’ll pass this question on to the national governments.
And I understand the frustration of police who spend time and resources investigating these offences, only to see the criminals walk away with little punishment because the social costs of their crimes aren't always fully recognized. That's why the Bank is working with the law enforcement community on training materials and legal tools to help prosecutors present their cases more effectively.