Alice-Mary Higgins (Independent)
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I guess that the precautionary conditional credit line is a revised version that has been proposed in the European Stability Mechanism legislation in Ireland. Lots of countries just would not qualify for a precautionary conditional credit line. It is almost a safety net that would not work in that regard.

I ask Dr. Ehnts to comment on the ECB's asset purchase programme. Also, I ask him to comment on the idea of certain kinds of exempted expenditure. I know this is one of the debating points. I mean certain categories of public expenditure should be exempted from fiscal standards and rules or deficit and expenditure rules.