This kind of a genuinely European synthesis could pave the way to a solid stability union, where the main responsibility for economic policies should rest with the member states, balanced with 1/2  BIS central bankers' speeches  the insurance provided by common structures designed to safeguard financial stability. The most urgent task is the finalization of the banking union.
The Eurozone Summit in June decided on a credible backstop for the European Resolution Fund, so that any bank resolution can be effectively managed with bail-in, without returning to the politically damaging bank bailouts and turning again to taxpayers’ pockets.