The conference has been arranged to celebrate the 200th anniversary of the establishment of the Bank of Finland in 1811. The Bank of Finland is the fourth oldest central bank still in operation; the Swedish Riksbank, the Bank of England and Banque de France are our seniors, in that order.
So it is of no significance to Denmark's influence that even if we participate in the banking union we are still not represented on the Governing Council. Experience from the first five years of the banking union has confirmed that supervisory decisions are considered and made by the Supervisory Board and then formally approved by the Governing Council without further ado.