Second, there is a risk that the sovereign-bank-corporate nexus could impair the smooth transmission of monetary policy through financial instabilities, a credit crunch and self-fulfilling price spirals. The risk of a premature phasing out of fiscal support is largely outside the ECB’s control.
Ladies and gentlemen, the SPSE has been challenged and continues to be challenged with many issues, some of which are: 1. A number of investors in the share market are large institutional investors who buy and hold, instead of making market with their stocks;  2.