However, on the issue of the purchase of government bonds, there has been a true break with past tradition. Your predecessors were strictly against it, whereas you and Mario Draghi are clearly in favour of these purchases. Who knows what my predecessors would have done in my position.
•  The supervisory and regulatory framework was enhanced and modernised – with a seamless transition from Basel I to Basel II for capital adequacy after a frictionless year of parallel run, and the revision of some guidelines especially those relating to credit concentration and related party transactions.