And this can pose a considerable threat to financial stability. •  Lastly, the global shadow banking system still plays a major role and is closely linked to the German financial system. I would now like to discuss each of these three topics in greater detail. 2.
Some 49% of EU citizens now say that they trust the European Union − an increase of six percentage points compared with last summer.3 We should build on this in the recovery phase and ensure that we continue doing all we can to earn the trust of those we serve. Thank you for your attention.