I have a job at the ECB until the end of the year, so it’s really not for me to have that discussion. Benoît Cœuré, thank you so much for joining us right here at of course Davos, World Economic Forum 2019. 3/3  BIS central bankers' speeches
Now, of course, as we all economists know, when you cannot tell the difference, you charge everybody the same risk and hope that the risks will cover defaults. The problem with that system is that you are scared of somebody willing to accept a higher rate because he is more desperate.