The idea isn’t to always move towards harmonisation, but rather to give ourselves the option to adopt common solutions where it makes sense to do so – a common framework to manage insolvent businesses and households could, for example, facilitate the resolution of non-performing loans and contribute to the development of crossborder investment.
The rest of the financial market If further progress is to be made in overcoming the difficulty of matching the demand and supply of funds then it is important that markets, technologies and stakeholders develop the capacity to ‘bundle’ corporate risk into financial instruments that meet the needs of final investors, such as insurance companies, pension funds and households.