We have positive news that the situation is improving in several countries and we have strong commitments to reforms, such as the announcements made last Tuesday by the French president, which I take as an important statement of intent. We also need strong actions to strengthen confidence in the banking sector and complete the whole banking union project.
The role of the ECB is to support these processes. We have a clear treaty mandate to support the policies of the community. The best way to do this is to deliver on our inflation mandate. The ECB will deliver on its mandate. But that’s not a sufficient condition to deliver growth in Europe.