With these factors in mind, I have come to think that the post-COVID-19 phase may be an opportunity for the services industry to raise the prices of their services while improving their quality.
Half a century later, Heads of State or Government attempted – again, unsuccessfully – to influence the monetary policy of the ECB. When growth weakened in 2003 and 2004 the then leaders of the three large euro area countries demanded an instant reduction in interest rates. The Governing Council refused to reduce rates, and I was proud to refer to the Adenauer precedent.