In sync with the subdued pace of the recovery, inflation in the euro area has been low as well. Still, the risk of becoming enmeshed in a deflationary scenario is considered to be low – I think in this respect we share a common view in the Governing Council.
So I was very pleased when the Minister asked the Bank to move forward in our search to find the iconic woman for our bank notes. We started by asking Canadians. And let me tell you. They told us. The response was amazing. Within two days we received more than 10,000 nominations.