In such a situation, it would be useful if the Single Resolution Fund were able to  BIS central bankers’ speeches  5  borrow from the markets or have access to funds from the European Stability Mechanism. However, the challenges do not end there. The European Parliament is taking a somewhat different approach.
Uncertainty has implications for investment in both the oil industry and the rest of the economy. Let me start with the oil industry. Most of the capital investments in the oil industry are irreversible, especially those involving large scale infrastructure such as pipelines, so the option value of waiting will be a factor influencing investment decisions in the industry.