Here in the ministry where Robert Schuman made his historic declaration on 9 May 1950, everyone understands that the European project is inextricably an economic and political project. The same is true of the euro.
No doubt things have changed and economic policy making now involves phrases such as “ forw ard guidance” as a real policy tool designed to enable markets and the public to anticipate the direction, magnitude and timing of policy action. And in this regard, the manner and w ording of communication becomes crucial.