In this perspective, I will focus on the euro area as a whole as well as more disaggregate developments in some countries. Finally, you certainly cannot expect a central banker to end without a note of caution. In the last part of my speech I will therefore focus on the challenges we are still facing.
Where this does not occur, we will take appropriate supervisory action and where serious or egregious breaches occur we take enforcement action. We are also seeking to strengthen the regulatory framework. We are currently working with the Department of Finance to progress the Individual Accountability Framework. This seeks, among other things, to enhance the accountability of senior individuals in banks.