It is a discussion on how low can inflation be without triggering adverse dynamics. We are not there, but we have to be alert that negative shocks could trigger that kind of scenario and then we have to be ready to react. The second point is what we would do.
We have a range of instruments that we can use to cope with different kinds of shocks and we have to distinguish broadly between shocks to the  BIS central bankers’ speeches  1  liquidity situation in the euro zone that would start from the front end of the money-market curve, and for that we have a number of instruments.