However, the task of the MPC is to look ahead into the future and to secure stability in the long run. The support for low inflation will weaken if it is based only on memories of consequences of high and unstable inflation of the past.
I am very grateful for the chance to speak today with parliamentarians from across the EU. Almost 27 years ago to the day, also while inaugurating a French EU presidency, President François Mitterrand said: “the more Europe there will be, the more democratic this Europe must be, and the more parliamentary it must be”.