"Governments cannot assume or expect that the ECB will always facilitate their funding independently of the achievement of their fiscal and other policy objectives"
- Lucas Papademos
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This quote by Lucas Papademos is stressing the significance of federal governments taking obligation for their own financial and policy objectives. He is suggesting that governments must not count on the European Central Bank (ECB) to supply them with financing without taking the essential steps to achieve their own objectives. This suggests that governments ought to not anticipate the ECB to supply them with funding without taking the necessary actions to achieve their own goals. He is also recommending that governments ought to not assume that the ECB will always be willing to supply them with financing without taking the needed actions to attain their own objectives. This quote is a reminder that governments ought to take duty for their own financial and policy objectives and not count on the ECB to provide them with financing without taking the needed steps to accomplish their own goals.
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