9  example, they may take on market risk associated with securities investment without proper risk management, or they may take on excessive credit risks in lending -- that is, extend loans at an interest rate that is not high enough to cover credit costs.
In the 1990s, I worked side-by-side with Hans Tietmeyer and Horst Köhler to contribute to the foundations of the euro in the Maastricht Treaty. This work was to ensure that, among other things, the European Central Bank (ECB) would be based on the principles of independence and the pursuit of price stability.