And here I come to the preparation of the “post-FSAP strategy” that will soon be formally initiated when the European Commission issues its Green Paper for public consultation. A promising framework has been established through the completed FSAP measures. And I clearly see the post-FSAP period as a “window of opportunity” for further enhancing financial integration.
The ECB will certainly make its contribution in this respect. Let me already now mention three important elements. First, the focus of the post-FSAP strategy should be on the effective and consistent implementation of the FSAP measures at the national level, with new legislation being kept to the strictly necessary minimum.