Which bodies within the ESCB are to have access to the TARGET cross-border payment system? Who will issue euro banknotes? Who will print them? Where does the monetary income from the creation of central bank money originate: at the ECB or at the national central banks? And how is it going to be distributed within the ESCB?
In the December quarter, GDP increased by 3.4 per cent, which was one of the biggest quarterly increases on record. Over the final months of the year, there was a very strong bounce-back in household consumption following the mid-year Delta lockdowns.