Le faible montant que vous évoquez est exactement de l'ordre de grandeur des variations quotidiennes de la parité euro/dollar contre lesquelles on cherche à lutter par d'autres méthodes infiniment plus coûteuses.
It will all depend on its level, but there are a number of possible strategies and I agree completely with you that the objective of funding is secondary to the objective of combating speculation. The thing that astounds me is your claim that a minor amount cannot have a deterrent effect on speculation. The minor amount you mention is precisely in the same order as the daily variations in the euro/dollar exchange rate, and this is something we are attempting to combat by other, infinitely more costly methods.