This is precisely what we have agreed upon as part of our ongoing G20 presidency and we have entrusted the Financial Stability Board with the related tasks. Aside from the creation of the banking union and macroprudential supervision, there have been other institutional reforms in the euro area aimed at making the monetary union more crisisresistant.
The Stability and Growth Pact was reformed, for instance, and a fiscal compact was agreed. This should facilitate the more automatic enforcement of sanctions when the deficit and debt limits are breached. After all, sound government finances are the best protection against the risk of a sovereign debt crisis.