This performance has been accompanied by our strong constructive collaboration. Together, we have worked on and put in place, reforms that have helped improve your ability to absorb shocks and contain imbalances, both at the firm and the industry levels. We have emphasized governance and placed more responsibility on the boards of directors.
In the press conference on 7 March, President Draghi underlined that to reap the full benefits from the ECB’s monetary policy measures, other policy areas must contribute more decisively to raise the growth potential and reduce vulnerabilities. For the longer term, implementation of structural reforms is key to boost euro area productivity and growth potential.