Recent events in a number of Asian countries would seem to provide further evidence of this particular kind of market failure, albeit along with a number of other important shortcomings. 6 7 8 9 10 11  12 13  See Euro-currency Standing Committee (1994b). See Group of Ten (1997). See Basle Committee on Banking Supervision (1997a).
The last Five Presidents’ Report of June 2015 underlined the need to continue moving ahead in relation to the single deposit insurance, because without it the euro runs the risk of being unable to absorb generalised confidence shocks; the Report recalled that – in comparison to national systems – a common guarantee scheme is more likely to be neutral over time for public finances, because risks are more spread and contributions are levied on a wider range of intermediaries 4.