Expenditure is revised downwards by nearly € billion, reflecting, among other things, the postponement to 2008 of the renewal of several public-sector labour contracts. The revised estimates for revenue are consistent with the results to date.
Quite the opposite, in fact – monetary policymakers protect savings from devaluation through inflation, in part by deciding on an appropriate monetary policy stance while remaining independent. Over the long term, this is also in the best interests of savers. But we shouldn’t forget that citizens are not just savers.