And after that? Draghi: I am prudently optimistic. We believe that the combination of an expansionary monetary policy with government reforms will bring back much of the confidence lost. Is it still legitimate to speak of Europe in a “crisis”? Or would you say that the crisis is already part of history?
Draghi: The issue is rather an extended period of weakness than a crisis. Is a “black zero”, i.e. no government budget deficit, an important objective at present? Is Germany setting the right priorities in this respect? Draghi: I do not want to comment on that. Investment is low everywhere, also in Germany. Public sector investment is lower than the historical average.