This interference can be indirect if, for example, high levels of private or public debt put pressure on central banks to come to the rescue in times of crises and to assume risks. This may, in extreme cases, put price and financial stability at risk. Stable democratic institutions are the backbone of economic growth, employment, and investment.
What would, however, be more worrying is if the different principal supervisors in the single market, now including the ECB, were to take measures that sought to ring fence or discourage cross-border banking structures or activities that spanned their respective domains.