We are working for 19 countries, so we need different views to be reflected. Different economies inside the eurozone are running at different paces, and that has to be reflected. So, so far so good, as long as the Governing Council can form a consensus.
Many of the items on the Basel Committee’s reform agenda have been ticked off. Before we cast our minds to future regulatory projects, we should first observe the effect of the new rules – not just each one individually but how they interact with each other.