The final challenge is to prevent any non-standard measures which seek to remedy distortions emerging in financial markets from creating in turn further distortions, affecting in particular the behaviour of market participants. Let me offer a couple of examples related to what I mentioned earlier. The first concerns fixed-rate refinancing operations of unlimited amounts.
They are fully in line with our own views. Indeed, the drivers of success are innovation, productivity enhancement and employment growth and all measures should be directed to achieve these results. Some European countries that are ahead in the process of adopting such changes show that these reforms are able to deliver higher output and employment growth.