Q: If the situation were to worsen, does the....>

ECB: Q: If the situation were to worsen, does the ECB have any tools left? You

always seem to have something else in your toolkit.

A: Let's not forget that, not so long ago, many people were saying that the ECB

had run out of ammunition. Our response to this crisis has clearly shown that we

have a large and effective monetary policy toolbox at our disposal. We have, in

fact, expanded our set of tools during this period, to be able to fulfil our

mandate. And we can adjust our existing tools or create new tools in the future

if necessary. I can assure you that we are in no way constrained in that sense.