It is thus essential to guarantee a proper alignment of interests between who is entitled with decisions powers, who bears the liabilities and who is accountable to ensure fair and balanced decisions.
Final remarks and way forward Uncertainty calls for a cautious approach but should not be a reason for inaction: the foundations of the European architecture are still not sufficiently robust to withstand the 2/3  BIS central bankers' speeches  impact of a future crisis and this should be the focus of policy makers.