Another criticism: this tightening of the rules runs the risk of producing a concentration in the financial sector, and on the financial markets as well, which is even stronger than it is today. Jean-Claude TRICHET: I do not believe so. We must be constantly and closely vigilant with regard to the structural changes to international finance.
There are permanent risks that we must continue assessing, but I do not think the rules we have just defined, or those still being worked out, will lead to this hyper-concentration. On the contrary, I have to say that one of the main lessons of the present crisis is that there were very high risks associated with what I would call the “financial mammoths”.