*  *  Introduction  I would like to thank the Fondazione Italianieuropei and the Foundation for European Progressive Studies for inviting me to this conference. It is a pleasure to be here to discuss the opportunities and risks associated with the European Banking Union (BU) and Capital Markets Union (CMU). It is a very topical subject.
As you know, the Central Bank is responsible for the integrity and stability of the currency and of the financial system. To effectively promote these objectives, we need to build trust with our various stakeholders – the financial markets, the business community, the politicians, the media and the public at large.