But monetary policy cannot be called on to overcome the crisis. A sustainable resolution to the crisis lies in the hands of the Member States. So this evening I would like to look at two questions: •  First, what is the role of monetary policy in overcoming the crisis?
•  Second, are the euro area governments living up to their responsibility to eliminate the causes of the crisis? Let me begin with the role of the ECB. The ECB’s core task is to ensure price stability. That has not changed, nor will it change.