In principle, there are two alternative ways of making progress in European cooperation, either by the well-tested Community Method or by the intergovernmental method, which some years ago was described as the Union Method.
As central banks and supervisors, we have to ensure that financial institutions take all relevant risks into account. At the same time, scaling up private investment in emerging and developing economies is imperative to drive the green transition. Blended finance could be one way to reduce investors' concerns.