Both at the ECB and in all national central banks of the Eurosystem – in Germany at the Deutsche Bundesbank. There is the feeling that we are all working together on a task of historic proportions. The world in which we are living is changing very rapidly, requiring us to act intelligently, as well as boldly and courageously if necessary.
As for the outlook, public investment is likely to start decreasing in the near future, but net exports are expected to continue increasing gradually, reflecting the expansion in overseas economies. In the corporate sector, firms still strongly feel that they have excess equipment and that they should reduce their debts to restore financial soundness.