The ECB and other major central banks have been very much in the news in recent weeks as a result of their money market interventions during the financial market turmoil.
And, secondly, banks would become more resilient in cases of market turmoil. The former chief economist of the IMF, Professor Rogoff, even went so far as to state in an interview recently that adequate risk-weighting of sovereign bonds constitutes a far more effective debt brake than the mechanism envisaged in the fiscal compact.