In the speech 'Monetary and fiscal policy in the euro area' Wim Duisenberg of the ECB said that the macroeconomic policy framework in the euro area is appropriate to ensure sustained and non-inflationary economic growth. Fiscal policy should contribute to maintaining an environment of macroeconomic stability. At the same time, the monetary policy of the ECB takes into account the fiscal policy stance, as one of the factors which contribute to the outlook for price stability over the medium term