In my interview with @mastrobradipo @repubblica, I argue that the @ecb has responded swiftly and forcefully to the deep crisis that Europe is facing. The impact of our measures is substantial, and we stand ready to expand all of them, as needed, in line with our mandate. 1/6
We need to make sure that our monetary policy is transmitted to all parts of the euro area. Diverging spreads are often a sign of fragmentation, and we are fully committed to countering such developments. The #PEPP is the right policy tool in this respect. 3/6
We should be happy that Germany is no longer sticking to the “black zero”. But it would be harmful if the countries hit the hardest spent the least to fight the crisis. This is why an adequate European response is so important. We are all sitting in the same boat. 4/6
The best way to reduce the public debt burden after the crisis is to strengthen economic growth. A sizeable European recovery fund, providing a mixture of loans and grants, is needed to foster investment. Support for the private sector could also include equity-type funding. 5/6
The #euro enjoys broad-based popularity in the euro area. It is our task to preserve and foster this popularity by supporting European households and firms in these difficult times, and by explaining the benefits that the euro brings to all citizens of the euro area. 6/6
