In future, it will no longer be the taxpayer who has to step into the breach in the event of bank failures. Are you optimistic in this respect? Will the taxpayer really not be called upon to pay the bill in future? That is not a question of optimism. The new rules afford the taxpayer far better protection.
I am confident that the bail-in rules will be complied with and that taxpayers’ money will only used as a last resort. Is the ECB really the institution that should deal with banking supervision? Aren’t you afraid of reputational risks? Not really. We will keep supervision strictly separate from monetary policy.