The huge sums doing the rounds in the press are, in my view, a complete exaggeration. How many supervisors will be working in Frankfurt? That is still not clear. What is clear is that not all supervisors will be based in Frankfurt. Many of them will be in the same place as the bank headquarters.
In the case of a large bank, a team could easily consist of 70 people, including representatives from the national supervisory authorities. The programme for unlimited purchases of government bonds (OMTs) seems to have played a large role in saving the euro. Mario Draghi misses no opportunity to emphasise the success of the OMTs.