The first element was to dispel people’s deflationary mindset and raise inflation expectations by making a strong and clear commitment to achieve the price stability target of 2 percent at the earliest possible time and implementing large-scale monetary easing measures to underpin the commitment. The second element consisted of putting downward pressure on the entire yield curve through massive purchases of government bonds.
The  BIS Review 109/2007  1  completion of a single market for services will also further facilitate trade in services. In addition, the rate of increase in extra-euro area exports and imports exceeded that in intra-euro area trade, rising from about 24% of GDP in 1998 to almost 33% in 2006.