On the other hand, some more optimistic points were made: for example, the banking sector is in much better shape now than before the last recession. What we didn’t discuss, but in my view is crucial to the euro area’s shock-absorbing capacity, are private risk-sharing channels. Here the discussion about the capital markets union is very important.
Towards the end, some speakers stressed that when we have problems, we sometimes discuss and see things from a limited perspective, and that it is very important not to lose sight of the broader picture. The euro area is not just a collection of member states, but a big economic player in the world.