We have a legitimate debate – in Europe as well as in the US and in Japan – about whether the central bank is doing well on this, well on that.
The Governing Council of the ECB did all what was necessary to be faithful to its primary mandate and to take into account, in transmitting our decisions on interest rates, that we were in the worst crisis since 66 years, a crisis which was disrupting some markets. Jürgen Stark has been a very close friend for 18 years.