When commodity prices rise sharply, the poor suffers the most, given their limited or zero capacity to augment their incomes. Conversely, the poor benefits the most when prices are stable. Also, when the financial system is properly functioning, it is able to fund productive activities, including those that create jobs for unskilled and semi-skilled workers.
Following the principle of “an open market economy with free competition” is pivotal to fostering long-term economic growth and job creation, increasing the resilience of the euro area to economic shocks and facilitating the maintenance of price stability in the euro area.