But there’s something else I’d like to make clear. We just decided on a package of measures in September. That’s not something you can do every month or two. We shouldn’t undermine the package now by speculating about possible next steps. The package is appropriate and we believe that it will be effective.
Criticism of the package was particularly loud in Germany – just as it has been of the ECB’s actions more generally over the past few years. Can Christine Lagarde as ECB President repair the relationship with Germany? Germany is of course very important for the ECB. Germany is the biggest country in the euro area, and the biggest economy.