Mr. Mario Nava:

If the issue is what interventions there could have been, I think that when a national supervisor sees some sector growing at an excessive pace or some particular counter-party to which the banks are excessively exposed, he or she - without referring in particular to one sector or the other, or one bank or the other - certainly has the power to intervene. Supervisors had the power to intervene in two possible ways: first, by stepping up the legal requirements that were provided as a minimum by the directive from Europe-----