Carl-Ludwig Thiele: The euro − past pitfalls and future challenges Speech by Mr Carl-Ludwig Thiele, Member of the Executive Board of the Deutsche Bundesbank, at the People’s Bank of China School of Finance, Tsinghua University, Beijing, 22 September 2015. * 1.
If, for example, this capital injection is not used to cover existing losses, but rather future potential 1/7  BIS central bankers' speeches  losses, that arise, say, from a stress test scenario. As I said, that has nothing to do with Italy...  Will it though, will it...? .... Yes. But that is a European directive that applies to all.