Mr. Mario Nava:

This has been the largest crisis in modern history. It has been dealt with at the level of national supervisors. Now we have European supervisors who are responsible for checking compliance with the law. The Chairman is asking a question about the future to which I am unable to respond. He asked whether we will have some more legislation stepping up sanctions. That is a question to which I am unable to respond and which the Commission will need to address.

An important point is that this year we will do a review of the SSM. At the end of this year, we will review what has happened during the first year of the centralised supervision. As I said at the beginning in response to the question, what countries can expect from us in the next five years is maximum alertness to different situations that may arise in regard to the economy, the banks and the supervisory mechanism. We will watch carefully to see what further rules are necessary.