Providing funds at the European level is possible because control over, and supervision of, the banking system also takes place at the European level.
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Sadly, much of her excellent work was destroyed under the Tony Blair government when chancellor Gordon Brown's profligacy wrecked the public finances and his ill-advised changes to banking supervision severely damaged the financial system.
In his excellent piece in the New Yorker this week, Atul Gawande spends some time discussing ICU doctor supervision via the electronic ICU system.
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The supervision of the financial system has been overhauled to meet international norms.
In 2011, about seven million people were under the supervision of the criminal justice system in the United States.
As long as the Spanish government controls its banking system through national banking supervision, recapitalizing Spanish banks is like giving money to the Spanish government.
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Because the Adwords buying process works with little human supervision, says Exploit Prevention's Chief Technology Office Roger Thompson, the system is ripe for abuse.
The first is financial: the euro zone needs a region-wide system of bank supervision, recapitalisation, deposit insurance and regulation.
It means we've got to ensure consolidated supervision of all institutions that could pose a risk to the system.
Closely related to this third group of activities is a critical question that we as a country now face: how to strengthen our financial system, including our system of financial regulation and supervision, to reduce the frequency and severity of bouts of financial instability in the future.
These initiatives are under the supervision of national institutions or authorities which shall work for the strengthening of the enforcement system of mandatory building codes, protecting critical facilities such as schools, hospitals and historic buildings, and promoting the development of more affordable retrofitting techniques and the use of available seismic isolation or energy dissipation techniques.
Market forces and models are useful tools but strong supervision and regulation should always be in the first line of defense in protecting our financial system.
At the same time, the European banking system would have to be recapitalized and put under European, as distinct from national, supervision.
Then a formal, thought-out system of supervision and risk management is created and applied at every level to ensure execution of the strategy and protection against internal and external threats.
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Better banking supervision and risk management - all the reforms we talk about endlessly here in the UK to strengthen the financial system - will be one part of making the world a safer place, in rich countries and emerging ones like Brazil.
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