We had to send a message to governments about what, in our opinion, could be done in order to retain the confidence of the markets. But we never act as a substitute for the governments’ responsibility and decisions. Will the ECB not stretch itself too far through the politicisation of its role? We are not politicising our role.
We are executing our monetary policy responsibly in accordance with the Treaty, fully in line with the European tradition as regards our call for sound fiscal policies, at a time of the worst crisis since the Second World War. The Europeans are making history.