But I expect this new initiative to lead to a strengthening of the legislation on economic governance which is now being examined by the European Parliament: we’re calling for a major improvement compared with the governments’ previous position, which the Governing Council of the ECB regarded as unsatisfactory. Weser-Kurier: Will there be a majority in favour of it?
Trichet: Our message is crystal clear: we call on all those concerned to exercise their responsibility. And it’s not just about words, but also deeds. Therefore, our strong message to the European Union is that monetary union, based on the euro, is working. The currency is credible and has been proven to maintain price stability.