the models that underline that, you don ’ t take into account climate change. you ’ re missing a big chunk of the risks that are looming on the horizon and that will be upon us much quicker than we think. so if only in respect of that work, we must take climate change into account. added to that, when we invest, we have to be mindful as well and how we do that is being debated in our strategy review. plus when we do supervision and when we look at how banks are valuing their liabilities and their assets, we need to ask them whether they take climate change risk into account as well. so there are multiple ramifications where we need to ask ourselves : do i need to change? is climate change really part of my thinking? i will insist on that. at this moment, the british people are voting. how important is the outcome for europe? i think the outcome that will close the loop of uncertainty that we have lived with for the last couple of years is very important. business people and any economic actor, whether you ’ re in a family or whether you ’ re in enterprise, will tell you : “ i need to know where i stand and what is the environment where i will invest, operate in? if we don ’ t know, then we don ’ t invest. then we don ’ t create jobs, then we don ’ t trade ”. and that ’ s what has happened a little bit with the uk, because we didn ’ t know and we still don ’ t know to this day, what is the likely outcome. at the end of today we might know a little bit more. it won ’ t be final because we still have probably a transition period which needs to be gone through, but at least some clarity will emerge out of tonight, i hope. if boris johnson wins, brexit will happen. what will be the effect on the european economy? there will be negative consequences in the short term for all economies, predominantly the uk, and within the european union some countries will be more at risk than others. ireland is a case in point which will be sort of first affected. the netherlands might be affected as well because it has a close relationship with the uk. germany as well, the automotive industry. but clearly the major impact will be on the uk. mario draghi will go into history as the man who saved the euro. what would you like your legacy to be? i ’ m

countries in difficulty, i know some of the facets of the work that is done here. i learn fast, i work hard and i ’ m surrounded by exceptionally competent people. so to the extent that i can sometimes challenge some of the conventional views and the sort of home - grown conventional wisdom, i think it ’ s very healthy. yes, it could be an advantage. it could be. you are the first woman to lead the ecb, which used to be a man ’ s world. how are people reacting? i think they notice but i think they tolerate it and hopefully they will accept that i can do as good, if not a better job than men would. i think that ’ s the beauty of diversity and the openness of this institution, actually, to accept, engage and respect differences and to try to include them. 1 / 6 bis central bankers'speeches do you believe it ’ s important that a woman is leading such a prominent institution like the ecb? yes, i do, because i see too many younger women – not necessarily younger women actually – but too many of my colleagues and friends and people that i meet in the course of everyday life, who look up to me and say to themselves or say sometimes to me, “ about time that a woman does this job ”, number 1. number 2, “ if she can do it, maybe i can do it, too – and if not me then my daughters maybe can do it. ” so i think that as a signal it ’ s important. it honestly gives me, i would say, additional responsibilities because i don ’ t want to let them down. that puts an additional weight on my shoulders. i have to honour that. also the european commission is led by a woman now. do you think that will make a difference somehow? i ’ m sure it will. when you look at some photos from the days when the european union was set up in the first place, or when you look at old photos – sometimes not so old photos – of the ecb, of the governing council, it does make a difference, if only optically. but i also think that it brings an added dimension, which is the sheer dimension of diversity of thinking. but also in policy. oh, i think everybody brings … maybe risk - taking? on risk - taking, i think, it has been demonstrated empirically now by a lot of analytical work that has been done on the trade floor and in