No-one can credibly say at the moment whether this time will be worse or not. The ECB hasn’t changed its forecasts so far, at least. The next projections will be published in March. We will be monitoring developments very closely until then. Your personal situation has changed a lot since you joined the ECB. What has been the biggest change in your daily work?
I have to say, it is a very intensive job. I’ve always had a very full calendar, including during my time on the Council of Economic Experts. It was particularly stressful when the Council was preparing its annual report. We referred to that period as the “campaign”. I currently feel as if I’m in a kind of permanent campaign.