Furthermore, and no less important, these changes would make the financial markets more efficient, improve their competitive structure, and thereby encourage savings and support growth. 3. In addition to the two anchors mentioned above, we must give attention to various aspects of the labor market and wages policy in the public sector. The relevant topics are: a.
One crucial issue still needs to be resolved: the establishment of a common standard for bail-inable capital, the so-called Total Loss Absorbing Capacity, or TLAC. Here, it is imperative that this insurance can really be called upon when needed.