It is also evident in the management of bank crises and in the preservation of financial stability, where the splitting of powers among a large number of authorities makes it difficult, at times, to identify the measures to be adopted and slows actions that, to be effective, must instead be taken extremely quickly. Proceeding by means of compromises is becoming increasingly difficult.
Completing Banking Union and establishing a capital markets union are clear and immediate objectives. The true completion of the European construction, however, will only be achieved with the development of democratically designated institutions mandated to exercise common sovereignty. The difficulties we have faced in these critical years have been arduous as are the challenges that remain.