Time and again, institutions have raised these two points in an effort to pin the blame for their woes on monetary policy and regulation. But this "we’d be better off without you" mindset is of no help to anyone. Albert Einstein once even said that "insanity is doing the same thing over and over again and expecting different results".
If necessary, we will enforce these deadlines, standing ready to use all the supervisory instruments at our disposal. Let me be clear: as Vice-Chair of the ECB’s Supervisory Board, it is not for me to determine whom banks should lend to.