A failure to signal the necessary commitment will not contribute to improving the confidence of investors and consumers in the euro area. Thus, my appeal for consolidation does not stem from a desire to punish past sins. Rather, the goal is to make those countries at the heart of the crisis stronger.
And if we adhere to our fiscal rules there is no need to set up the ECB as lender of last resort let alone to call for inflation as a solution for resolving the debt problem. 3.2. Regaining competitiveness  And the same is true with regard to the second problem I mentioned: the lack of competitiveness in some member states.