SZ: Chinese walls in regular banks have collapsed. Draghi: Not in central banks. SZ: How can the ECB do a better job than the German Bafin? Draghi: It is not about doing a better job; it is about making sure that uniform supervisory practices are applied across the whole single currency area.
The more detached you are from national government, the more objective you will be in your decision-making. We don’t want to control every small bank directly; we will work together with national supervisors. SZ: According to the plans, the ECB will have to report on its supervision business to the European Parliament once a year. Is that enough?