Jumping into the “deep water” of international competition with privatised enterprises and banks has set off radical reforms having far-reaching implications. One of the great thinkers of the Enlightenment, Immanuel Kant, said that the true philosophers are those who carry conviction through their teachings and by setting an example.
This judgement confirms the ruling of the Court of Justice of the European Union which concluded that the OMT programme is compatible with EU law and falls within our mandate. In my remarks today, I will review the state of the euro area recovery and the recent monetary policy measures adopted by the ECB.