But even though I am extremely optimistic, we have to bear one thing in mind: European banking supervision is an immensely complex operation that has been put together in a very short space of time. We should not expect everything to run smoothly from day one.
It will certainly take some time before every detail is sorted out deep down in the engine room of actual banking supervision. Let us take a tour down into that engine room and see how European banking supervision is organised and what that entails for the national supervisors. 3.