In other words, decisions about interest rates can be separated from the non-conventional measures. I refer to this duality as the “separation principle”. The non-standard measures have to be commensurate with what we are observing on the market, namely to help the transmission of  BIS central bankers’ speeches  3  our monetary policy to function better again.
The European Commission is currently creating legislation to increase funding for the green economy. This supplements the EU Emissions Trading Scheme and the EU CO2-emission targets. This is also good news, but not enough. What we need is action at the global level.