First, as I have already suggested, a core rationale for stress testing is the macroprudential goal of ensuring that the nation’s financial system could continue to operate even in the face of severely adverse developments. It is precisely an outcome fairly far out on the tail at which a stress test should be directed.
Mr. Draghi: What we want is a financial industry, and banking sector especially, where you have more capital, less debt, more rules and much stronger supervision. You can have that only if there is a level playing field and broad endorsement by political leaders. It has to be done in a way that you keep the market alive. That's the art of doing it.