It performs this role in monetary policy and has performed it in areas associated with financial stability. It is the ECB and the Eurosystem, for the euro area. Fifth, it is a political responsibility to decide which institution to entrust with enhanced responsibilities for prudential supervision. What is sure is that we cannot wait interminably to strengthen the current system.
My final message is: rest assured, the ECB is ready to assume responsibility for the tasks that Europe’s political authorities may assign to it. Thank you. 6  BIS Review 17/2009