However, I want to be very clear here and emphasise that innovative solutions that do not have the potential to extend their 1/3  BIS central bankers' speeches  reach at pan-European level are not in line with the expectations of the Eurosystem and the goals of the Single Market.
The basic tenet of my thesis was and is that in a small open economy such as ours, fiscal consolidation is an indispensible condition for monetary stability. The debt relief program in the context of the constitutional changes was the fulfillment of that expectation.