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Posted by / 17-Jul-2019 23:53

The first was to maintain confidence in the single currency amid tremendous financial instability and uncertainty.

The second was to maintain price stability despite financial fragmentation in the euro area.

En concentrant l'autorit entre ses mains, Bland russit s'assurer que son jugement touchant toutes les questions importantes primerait, pargnant ainsi l'organisme maints problmes qu'il avait connus dans ses premires annes.

Madam Chairman, Mr Vice-Chairman, Ladies and Gentlemen of the National Assembly, Thank you for the opportunity to address you today.

These monetary transactions made it possible to intervene, if needed, in secondary sovereign debt markets in the event of a speculative attack, notably one linked to single currency fears.

They were conditional on the establishment of a financial aid programme under the European Stability Mechanism, which would constitute an indication of confidence in the economic convergence and fiscal viability of any country in which we would be called upon to intervene.

This decision led to a dramatic decline in the risk premia on sovereign yields, notably those of Italy and Spain.

Despite this progress, the growing threat of prolonged weakness in inflation has made new measures necessary.

As a result, in January 2015 the Governing Council decided to launch an expanded asset purchase programme.

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