There are two facets of resilience that are vital. First, the capacity to withstand an immediate shock. [3] And second, the ability to adapt effectively to new conditions. [4] In my remarks today, I will explore these two aspects of resilience, and how we can best ensure that they are met across the financial system.
Long before the Bundesbank highlighted its strategic importance, you had already established teacher training activities in Bavaria. You were a classic early mover. In 2013, you left your beloved Bavaria and went to Leipzig, as you couldn’t let the opportunity pass you by to be president of a regional office yourself, namely the one in Saxony and Thuringia.