These institutions must also be made less ideological and less political with greater voice for all member countries rather than for a handful of industrial countries. [I believe that what I have said is also in line with the “Middle Way” prescription of Mervyn King and is capable of being built into the present architecture.] 2  BIS Review 45/2002
To put that in perspective, ECB staff estimates suggest that a reduction of the standard policy rates by around 100bps in June 2014 would have been required to achieve a similar effect on the rates banks apply to corporate loans.