The costs of banking sector repair would be shared with the private sector through the Single Resolution Mechanism and a more integrated European financial market. All this suggests that stabilisation at the national level could be more effective in future.
Jean-Claude Trichet: Laudatio for Hans Tietmeyer Speech by Mr Jean-Claude Trichet, President of the European Central Bank (ECB), at Münster City Hall, Westphalia, 26 March 2010. *  *  *  Lord Mayor, Mr Hillebrandt, Dear Hans, Ladies and gentlemen, It is a great pleasure to be here giving this speech in honour of my dear friend Hans Tietmeyer.