They are excellent platforms for debate about financial services issues in Europe. This year’s forum takes place at a time of considerable progress on matters of financial regulation. The establishment of the European System of Financial Supervision (ESFS), including the European Systemic Risk Board (ESRB) and the three European Supervisory Authorities (ESAs) is a milestone.
I would like to commend all of those who so actively contributed to this achievement. Europe at times advances in steps, but the new supervisory architecture is more than a step; it is a leap forward. We can today look back with satisfaction on what the EU has achieved.