Draghi: Such developments are possible at the local level, also on the property market. But I would not see our policy as the cause. Many companies have been able to increase both their turnover and their profit in real terms. All in all, you cannot be satisfied with what has been attained.
When a patient looks up a doctor and finds, time and again, that all he does is increase the dose without that having the desired effect, that will surely have an impact on the patient’s confidence in the doctor, won’t it? Draghi: It is not true that our monetary policy is not having an effect. The ECB has ensured stable prices throughout its history.