It is not the responsibility of the ECB to give good marks and bad marks to finance ministers! All what goes resolutely and courageously in the direction of sound fiscal policies and improvements in the cost competitiveness of the economy has to be accelerated. It is essential.
We are also providing advice and information about supporting infrastructure that the Bureau will need to carry out its responsibilities, such as human resource systems and information technology. Well before the enactment of the Dodd-Frank Act, the Federal Reserve was working with other regulatory agencies here and abroad to design and implement a stronger set of prudential requirements for internationally active banking firms.