Sabine Lautenschläger: A stable financial system - more than the sum of its parts Keynote speech by Ms Sabine Lautenschläger, Member of the Executive Board of the European Central Bank and Vice-Chair of the Supervisory Board of the European Central Bank, at the Dutch Banking Day 2018, Amsterdam,15 February 2018. * * * Logic can be a tricky thing.
Apply it in the right way, and you always arrive at a consistent conclusion. But apply it in the wrong way, and it can lead you astray. And that happens all too easily. There are indeed many wrong ways in which we can apply logic. One of them is known as the fallacy of composition.