That’s why it’s all the more important for the Eurosystem to eliminate any doubts that the central bank’s task is to safeguard price stability. At the same time, sustainable public finances are a prerequisite for price stability which the Eurosystem itself cannot bring about. This is where the onus is on governments and parliaments. 6.
On the European banking union  Allow me to touch on one last point: the European banking union. The crisis has made it abundantly clear that the vulnerability of the financial and banking system is a key weakness of the euro area. It must be rendered more resilient and safer. This is where the banking union will make an important contribution.