This was the logic behind the establishment of the European Coal and Steel Community in 1951, and today it informs the Juncker Plan, as well as efforts to develop an energy union and a single digital market. The joint implementation of a political project and an economic strategy also assumes that our political union will be strengthened.
The aim is to ensure spreads don’t widen dramatically and to keep the borrowing costs of governments under control to avoid an increase in financial stress at this extremely challenging time. Are you now sure we will be in recession at the end of this quarter? Yes. All of the scenarios being looked at, by the European Commission, the OECD, etc.