In thinking about the effects of the Banking Union on individual countries and banks we should bear in mind that the Banking Union is built for the long term. •  The current positions of strength or weakness of various countries and banks will not be permanent: “The last will be first and the first will be last”.
We should  BIS central bankers’ speeches  9  therefore evaluate the Banking Union from a general, not particular or transitory perspective. •  Finally, the increased confidence in banks that fall under the SSM supervisory umbrella may open up wider cross-border business opportunities for banks and reignite the integration process of the European banking sector.