The principal motivation behind all of the decisions that have been taken subsequently with respect to the banking system has been to limit damage to the real economy from the banking crisis.
Let me now turn to some very important decisions by the Governing Council that draw upon the lessons learned during the series of crises: risks of fragmentation could undermine the smooth transmission of the normalisation of our monetary policy across  3/6  BIS - Central bankers' speeches  all countries in the euro area and should therefore be addressed.