A conversation between separate arms of a central bank on these issues, adjudicated by a single body, appears to me a happy medium between necessary separation of duties and useful proximity of knowledge and effective decision making. That being said, only time will test the governance and effectiveness of the SSM.
Monetary economists would be familiar with the debate around optimal currency areas, and the history of international currency unions. The large and diverse Eurozone is the first real-life case study of an international banking supervisory area. In the course of this speech I will underline some of the strengths and challenges of supra-national supervision, based on the first year of operation of the SSM.