The fact that Common Equity Tier 1 (CET1) for the directly supervised SSM banks increased after the financial crisis to 12.8% by mid-2016, and that this level is well above the unchanged aggregated capital demand of the Supervisory Review and Evaluation Process (SREP) for 2017 of around 10%, can be taken as a sign of an improved resilience of the European banking sector. 4.
Conclusion To sum up, I am strongly convinced that taking responsibility for national circumstances and policy decisions away from the member states would help neither the countries nor the people nor the European project. Strengthening individual responsibility appears to be the better approach.