If we are to consolidate our position of relative strength, we need to seize opportunities when they present themselves, while mindful of our basic fiduciary responsibilities and our mandate to act prudently. This is a call for active participation at a time when the real economy needs us the most.
As regards the ECB in particular, I am convinced that our existing monetary policy framework provides enough scope for instruments to continue addressing the crisis in a decisive and effective way. We remain attentive to possible shortcomings in our policy framework and to changes in the structure of the economy that would warrant revisiting aspects of this framework.