The media and politicians have a responsibility here, too, in not undermining public trust, for example through talk of allegedly missing gold at the Bundesbank which has absolutely no basis in fact. Banks provide the grease which makes the wheels of the real economy turn, and they will continue to be needed in the future.
Therefore, as well as criticising them, we must also give them constructive support. Or – and this is more than apt here in Frankfurt’s Abs Saal – in the words of banker Alfred Herrhausen: “Say what you think, do what you say, and be what you do”. Thank you for your attention. 6  BIS central bankers’ speeches