However, and this is what I wanted to convey in my short remarks this evening, identifying the drivers of yield curve movements in real time is a challenging task. For this reason, we look at a wide range of information and models to obtain a robust assessment.
I share the analysis of your draft resolution that governments should take advantage of the favourable economic environment in order to step up the efforts directed towards consolidating budgets and reducing public debt and go beyond the objectives laid down in the stability programmes. At the same time, structural reforms in the labour, product and capital markets should be pursued vigorously.