Because such firms are the ones most likely to be associated with systemic risk, this aspect of consolidation has probably increased the chances that a wind-down could have broad economic implications.
Sometimes you have to adjust the course of the ship… That’s the reason why we do not pre-commit in the medium term. The members of the Governing Council are often described as belonging to different fractions. Some are “doves” others are “hawks”. To which fraction do you belong?