During the last hearing in June, I called for a comprehensive and fair agreement with Greece. In the following weeks, coming to such an agreement was very difficult and necessitated tremendous efforts from all those involved. But I am grateful that in the end, an agreement was reached.
As the EBA pointed out, it is now important that banks maintain their capital levels on the path to the Basel III framework. The other important lesson from the crisis is the fundamental inconsistency between the single monetary policy of the euro area and the national responsibilities for banking policies.