Doesn’t the crisis perhaps show that, in addition to looking at the euro area as a whole, the ECB should also take greater account than it did in the recent past of economic developments in individual countries?
First of all, as you know, the Treaty requires us to maintain price stability in the euro area as a whole, not to monitor the economic policies of different countries. This is the task of the Eurogroup and of the Commission according to the Treaty. And we have delivered price stability, which was our Treaty responsibility.