Well, although I might be tempted to concentrate on these issues, I would like to focus my speech on two broader issues, namely on the principles which are essential for the Third Stage of Economic and Monetary Union (EMU) and on how we can pass on our experience to countries in transition and, above all, to countries which have applied for EU membership.
(3) Another criticism concerning monetary policy is that QQE will weaken fiscal discipline by making it easier for the government to issue JGBs. Needless to say, the objective of monetary policy is to dispel the deflationary mindset and achieve the price stability target of 2 percent, thereby improving and stabilizing economic activity.