Christine Lagarde, President of the ECB, has said that all public and private institutions should act, within their mandates, to address it. [14] The ﬁrst “Grüner Pfandbrief” was issued back in 2015, even before the Paris Agreement was signed.
Business fixed investment is leveling out, and private consumption, notably durable goods consumption, is picking up mainly due to policy measures, despite the continued severe employment and income situation.