In practice, this means the board needs to beconvinced that Mr Horta-Osorio will become better at delegating, at setting the direction of the bank, but not micro managing every decision.
This market has yet to be wholly convinced that the current Italian political debacle will not become an inherent threat to hard-worn stability that European policymakers have been fighting for many months.
However, after extensive study of the library's conception and construction I have becomeconvinced that irreversible changes of this magnitude should not be made in this landmark building.