Turner writes that “It is possible for financial activity to extract rents from the real economy rather than to deliver economic value”. While recognising that “financial innovation ... may in some ways and under some circumstances foster economic value creation”, he insists that this “cannot be asserted a priori”.
The Commission also emphasised that, and I quote, "…the severe limitations of the enabling clause of Art.10.6. of the ECB statutes…More fundamental and comprehensive reform of the ECB's governance structures could not be envisaged on this basis, but can only be achieved in the wider framework of the Convention and the upcoming IGC."