But now we need to make sure that  4  BIS central bankers’ speeches  we have a strong authority for resolution, and that it has proper instruments to do its job, like the bail-in tool from 2015.
Willy Brandt once said that “what we want is a Europe of daily reason and of common sense, and we must be prepared to state this and, where necessary, to act.” It is my conviction that Banking Union is one of the clearest examples of where elevating powers to the European level is common sense: it brings benefits for citizens, who have a safer banking sector; for banks, who have a more consistent environment; and for governments, who are less liable for bailing-out.