We have monetary policy committees all throughout the world, and the reason we have monetary policy committees is to have diversity of views, an exchange of views, because nothing is ever that simple. And that particular decision is probably even less simple than usual. It’s a new instrument. There may be unintended consequences, there may be negative impacts.
Moreover, the IMF member countries pledged over $ billion in new loans to the Fund in order to erect a global firewall. The European and global firewalls alike have been substantially strengthened over the past two years. Are their levels now sufficient? Or should European leaders increase their volume even further?