Without this, it is difficult to have responsive and responsible leadership. This is the path to sustainable democracy and hence sustained economic progress. If people believe that election results can be ‘written or manipulated’, then political parties will not be under pressure to search for qualified, credible candidates who can win elections; and responsible candidates will be discouraged from offering themselves for service.
Conclusion  Ladies and gentlemen, I think it is fair to say that European banking supervision has got off to a clean start. But if it is to be a lasting success, we still have to overcome a number of challenges.