The missing element, we have come to realise, is the human element, and that is where our emotions come into play. We are emotional beings, and it matters a great deal to our motivation, our happiness and our performance, that our colleagues and our managers care about us.
The performance and value of a currency must fundamentally be judged in terms of its purchasing power. Consequently, it is the primary objective of the European Central Bank to safeguard the purchasing power of the euro by maintaining price stability in the euro area – which we have defined as maintaining inflation at close to but below 2% over the medium term.