With CPI inflation close to zero, and downward pressure coming from energy prices, travel services and economic slack more generally, we expect inflation to stay well below the  - 11 2 percent target in the near term. Our core measures of inflation have drifted slightly lower, consistent with the unused capacity in the economy.
The fact that banking union is not finished, doesn’t that lead to small banks in small countries being bought by big banks from big countries? I know this is a big discussion here in Portugal. I always have problems in understanding why that would be a problem.