(6)The Governing Council considers the full range of measures adopted on 10 December 2020 necessary and proportionate to counter the serious risks to price stability, the monetary policy transmission mechanism and the economic outlook in the euro area, which are posed by the continued severe pandemic conditions. The Governing Council remains of the view that the PEPP, in combination with all other monetary policy measures, is a suitable tool to preserve favourable financing conditions over the pandemic period. Furthermore, a recalibration of the PEPP, on the basis of an additional purchase envelope that remains flexible in its usage, is more efficient than alternative monetary policy instruments to maintain the required monetary accommodation in the current pandemic environment characterised by high uncertainty. Finally, considering the previous assessment that, on balance, the benefits of PEPP purchases outweigh the potential costs, the Governing Council judges that the positive impact of additional asset purchases in the context of the PEPP, in combination with the full range of monetary policy measures adopted on 10 December 2020, on achieving the European Central Bank’s price stability mandate, clearly outweighs any potential negative effects on other economic policy areas. The Governing Council continues to stand ready to adjust all of its instruments, as appropriate, to ensure that inflation moves towards its aim in a sustained manner, in line with its commitment to symmetry.