Mario Draghi: "We don't see systemic danger coming from bubbles." (2017)

We don't see systemic danger coming from bubbles.  If you look at the various markets - the stock market, the bond market - the prime commercial real estate is the only area where you actually see stretched valuations... We don't see the other component of a bubble which accompanied the crisis in the pre-crisis time, namely an increase in leverage.  We see that credit remains pretty subdued all across the board.

~ Mario Draghi, ECB press conference, September 7, 2017