It will certainly take some time before every detail is sorted out deep down in the engine room of actual banking supervision. Nevertheless, I am confident that we will get there and that our expectations will be fulfilled. 3. The Single Resolution Mechanism – the necessary second step  But we should not let unrealistic expectations become the roots of complacency and, consequently, disappointment.
European banking supervision is not the holy grail of financial stability. It certainly contributes to making banks more stable, but it is no panacea. Thus, we have to supplement it with other measures. Let me elaborate on one point in that regard. Banking supervision cannot prevent individual banks from failing – not at the national level and not at the European level.