In both cases, this is not a loss of sovereignty. In fact, I regard it as a recovery of sovereignty, because it is the means to provide once again, and sustainably, the stability and the opportunities that citizens demand from policymakers. Winston Churchill said that “to achieve great things, two things are needed: a plan, and not quite enough time”.
I hope that I have made clear today that we do have a plan. And since we certainly have no time to spare, I trust that, if we remain resolute, great things for the euro area and its citizens can become possible. BIS central bankers’ speeches  9