And there’s no point in hoping for that in some distant future. We need a strong and complete banking union within the next four to five years. What’s needed to complete it? We need a clear road map, showing where we want to be in four or five years’ time.
Brexit is regrettable and harmful, but it is also an opportunity for the banking union. Having a strong and reliable regulatory framework and a single supervisory body that is both strict and fair are big competitive advantages in the banking sector – for that creates trust of a sustainable kind, the bankers’ most important “currency”.