In October, the European Commission set up an independent High Level Group to develop proposals to strengthen the supervision of European financial institutions and markets and financial stability arrangements. The Group shall present its report to the European Commission in view of the Spring European Council 2009.
I will assure you that the ECB Governing council will examine very carefully all proposals which will be made by the high level group, as well as by the European Parliament and by the industry itself. Conclusion Ladies and gentlemen, continued financial integration is of key importance for Europe.