Whenever you are in doubt…Recall the face of the poorest and the weakest man whom you may have seen and ask yourself if the step you contemplate is going to be of any use to him. Will he gain anything by it?
But we should not forget that the European banking sector is characterised by diversity, not least as a result of national specificities, because this diversity contributes to the stability of the financial system. What we need, then, is a balance between harmonisation and diversity. There are some areas that require greater harmonisation and other areas that require less.