This ability to mine data allows providers of financial products to identify target markets with minimal geographic restraint. It has fostered development of monoline-credit-card and mortgage lenders that have become major market participants in a very short time.
Through all the mechanisms that make the economy work: lowering interest rates for lending to companies, which we did not only in France and Germany, but also in Greece, Italy and everywhere in the euro area, has boosted investment. By boosting investment and consumption we create jobs.