To draw a comparison with traditional risk exposures, we, as supervisors, would of course not expect banks to divest from all assets that entail credit risks, but we do insist that these risks are managed appropriately. C&E risks are to be managed just like any other risk; and their sound management requires sound risk controls.
For the inhabitants of a country which was not one of the founding states of the European Economic Community and which has a great historical past of its own, this process, this political “Euro Project”, may perhaps be difficult to appreciate.