This is of course a concern to us. We don’t live in an ivory tower. But we have a mandate and this mandate is for the 18 euro area countries as a whole. But I also think there are a lot of misunderstandings and unjustified fears in Germany.
For the purpose of encouraging development of small and medium-sized enterprises, the government has so far provided private entrepreneurs with access under favourable terms to two APEX global loans of the European Investment Bank in the amount of EUR 65 million, two credit lines worth EUR 63.25 million from the Government of the Republic of Italy, and the EAR Revolving Credit Fund in the amount EUR 15 million.