The individual national legislative frameworks should be internationally as compatible as possible, as this is the only way to ensure that a SIFI can be restructured or resolved without causing major market turmoil. 3. Macroprudential oversight  The crisis has shown us compellingly that traditional microprudential supervision is inadequate to the task of sufficiently addressing systemic risk.
Indeed, what Sir Thomas More said of gold five hundred years ago – that it was made for men and that it had its value by them – applies very well to the euro. Every currency is a symbol of the community it serves.