And by working to stabilize inflation, monetary policy has helped dampen economic cycles and mitigate fluctuations in employment.
FAZ: Is it only a question of morals, or is it also a task for regulation? Trichet: It is a question of values and also a question of rules. The Financial Stability Board has developed principles for guiding recommendations, for instance. In any case, we cannot afford to save the financial system a second time at taxpayers’ expense.