A high risk of contagion across euro area Member States made the task more challenging and constrained the policy options. The troika operated under these constraints.
The aim, then, is not to treat institutions equally, but risks. We apply this principle in our day-to-day supervisory activities as well. The higher an institution’s risks, the more intensively we will supervise it. The more significant, complex and risky the bank, the more frequently, extensively and intensively we will inspect it.