What is important is that economic policies and, in particular, fiscal policies are consistent with, and supportive of, the objectives of monetary union, including the objective of price stability. The present institutional framework is overall adequate to allow the ECB to perform is tasks effectively. Otmar Issing steps down as executive board member next may.
Would you like to take over his role as ECB chief economist? I have read the speculation in the press but I prefer not to comment. The decision will be taken by the Executive Board together with our new colleague. 4  BIS Review 87/2005