In general, the  1  To be clear, although monetary policy has limited influence on the level of employment that can be sustained in the longer run, it can be used to help eliminate gaps between the current level of employment and its sustainable level – as policy is doing today.
The SRM is a game-changer in the European bank resolution, as it is designed to end bank bail-outs. The new bank recovery and resolution framework ensures a uniform European approach where identical cases are treated identically. The Single Resolution Mechanism is complemented by the Single Resolution Fund (SRF) which is financed via levies on the banking sector itself.