I have also been closely involved in international cooperation on financial sector supervision and regulation in various bodies. These responsibilities have provided me with first-hand experience in the very field in which Europe is currently undergoing its most significant institutional overhaul since the introduction of the single currency.
During my last visit here, I said that good supervision cannot be achieved solely at the national level. But that does not mean that simply raising supervision to the European level will automatically make everything run smoothly. In order to make common supervision a success, we need to do things right from the very start.