Reinforcing cooperation and trust among the actors involved, from the ECB to the National Competent Authorities, is also crucial to our success. The Banca d’Italia, like the other NCAs, is fully committed to the SSM.
On this matter, Professor Edmund Phelps remarks set us in the right direction. The debate is complex in itself: there are those who favor ex ante preventive interventions and those who underscore the importance of a decisive ex post action to mitigate the effects of financial collapse.