So why is it so that even the “happiest people in the world” are so prone to populist temptations? As mentioned, the combination of economic insecurity and threats to national identity appear to trigger populist surges. This is amplified if the political system fails to address citizens’ concerns.
A good deal of effort has been devoted to establishing the basis for a common, fair supervisory framework. In its short life to date, the SSM has already helped in the stabilization of the Eurozone, which is a prerequisite for growth. The Comprehensive Assessment enhanced transparency and dispelled doubts about the resilience of Europe’s major banks.