Two eyes see more than four

The left-liberal daily La Repubblica comments on Angela Merkel's announcement that there will be radical changes in the area of bank supervision in Germany: "The era of dual supervision, which at a micro-level centred on BaFin [the German Federal Financial Supervisory Authority] and at a macro-level on the Bundesbank [the German Central Bank], has ended. Bolstered by the support of the [liberal] FDP, which even included bank supervision in its election manifesto, the Chancellor is now gambling on standardised bank supervision. From now on it's all in the hands of the Bundesbank, according to the principle that 'two eyes see more than four'. … The criticism of the double-tracked system is among other things based on the argument that the supervisory mechanism is too politicised. Politics must now take a step back."

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