Når Den Europæiske Centralbank ikke benytter inflationsmålsætningen, bør den fastholde strategien med to søjler, men kontinuerligt forbedre sin M3-beregning ved øget analyse- og forskningsaktivitet.
As long as the European Central Bank does not opt for an inflation target, it should stick to the two-pillar approach, but it should continuously improve its calculation of M3 by increased analysis and research activity.