J.-C. T. The ECB, together with the whole of the Eurosystem, including the national central banks and, in France, the Banque de France, is responsible for price stability. There is an essential difference between the ECB’s Governing Council, which must demonstrate to our fellow citizens that price stability is safeguarded effectively, and the leaders you mention, who have different, albeit very important responsibilities.
*  *  Introduction  The financial crisis has shown the need to strengthen regulation and supervision and to intensify cooperation between national authorities worldwide.