• Not ECB’s task to finance governments
• Europe is not on its way to become transfer union
• Every country is responsible for its own debt within the euro zone
• ECB does monetary policy for euro zone average, not to individual parts
• Sees increasing convergence of growth and inflation within euro zone within next 2-3 years
• ECB’s monetary pillar will not become financial stability pillar
• Positive that money markets have become more active again, but individual banks have problems accessing market funding
• We will not make our monetary policy depending on some banks which have no access to interbank markets
• Need to be alert in next months or quarters in order not to create conditions for next boom or bust
• ECB bond buying programme is temporary, we will not change the character of programme