Fifth, euro area supervision should be conducted in independence, in line with the Basel Core Principles, and also be subject to high standards of democratic accountability to ensure confidence in the conduct of this public function in the euro area. Sixth, the single supervisory mechanism should contribute to the deepening and reinforcement of the single financial market.
It is not as though we can say absolutely nothing about likely performance. We know something about average rates of growth through time, and we know something about the long run forces that work to produce them (productivity and population growth).