The responsibilities for state aid and resolution rest with the European Commission and the Single Resolution Board, in cooperation with the respective Member State. I trust that any solution will fully respect the principles of the banking union. The supervisor has to ensure that the banking system is sound and can fulfil its function.
If individual banks fail to do so, the supervisor alerts the above-mentioned authorities and works towards a sustainable solution. Is Italy currently the most serious risk to financial stability in Europe? It must be recognised that the resilience of banks and financial systems has improved significantly in recent years. We are far too quick to forget this.