Mr. Chairman: We need now to concentrate on reducing costs of doing business for banks so that we can bring down costs of financial services. For example, the recently introduced  BIS Review 163/2010  1  credit information sharing platform will enable banks to extend more credit to productive sectors boosting wealth and employment creation.
We bring them together in many different working groups to devise training manuals and supervisory guidance. But the ECB cannot create a common supervisory culture by itself. The national authorities can and should contribute, too. I understand, of course, that it is difficult to let go of traditions that have been honed over decades. Culture is a sticky thing.