In fact, an historic breaking point might have been reached with the recent, public majority  BIS Review 16/2002  3  support for membership of the United Nations. Should Switzerland ever decide to take part in European integration, I am convinced that you will embrace the Euro as warmly as the Dutch did on 1 January. 4  BIS Review 16/2002
Yet, the various crises that continue to emerge provide us with many lessons, key of which is the importance of preparedness and having an effective resolution regime in the event that a bank fails. Banks are important institutions as they provide services that are critical to the functioning of the economy. These include deposit-taking and lending and the provision of payment services.