Tonight we are celebrating the arrival of our new Bundesbank representative in London. To mark the occasion, I would like to say a few words on how we can stabilise and improve global cooperation, and discuss two current sets of negotiations: Brexit and Basel III. 2. What is the future of global cooperation?
Does the ECB have to make some adjustments in that respect? First of all, I’m very glad you asked me about the exit. Many others are only focusing on what else the ECB can do. We still have a lot of persuading to do. But of course you have a point, we absolutely have to avoid “cliff-edge” effects.