The Recovery and Resolution proposal (relating to national crisis resolution, and not specifically to a Union-wide, or euro area-wide mechanism) would ensure that in future national authorities will have the means to intervene decisively before problems occur and early on in the process if they do.
They could also ensure that the cost of restructuring and resolving failing banks falls on the owners and creditors and not on taxpayers. The December Summit asked the Council to agree this dossier by end March and for Trilogies to be completed before June. This is a very tight schedule indeed. The Commission proposal dates from June 2012.