The resolution procedure established at European level is only applicable to a very limited number of large banks; in the event of a crisis, all the others would be subject to liquidation in accordance with national laws, with no guarantee of this taking place in an orderly manner in a way that avoids any impact on systemic stability.
*  *  Introduction  Ladies and Gentlemen I am delighted to be speaking at this year’s European Supervisor Education (ESE) Conference. The idea of the ESE initiative is to bring together the experiences of practitioners and the theoretical knowledge of academic researchers.