I am confident that we will continue to build on the cordial relations between the Bank of Korea and the ECB, not only in the context of the aforementioned multilateral policy meetings, but also on occasions such as bilateral meetings and the annual Bank of Korea Central Banking Seminar, which ECB staff always find very constructive and enjoyable.
Fourth, OMT does not entail a transfer of risks from periphery to core countries via the ECB’s balance sheet, over and beyond risks that are inevitable and inherent in the implementation of a single monetary policy for 17 sovereign states.