Even the announcement of the entry into full operation of EDIS will have a strong confidence-building effect on depositors, in the sense of avoiding risks of selffulfilling prophecies on bank runs.
The Jean Monnet principle is inter-temporal and applies at all times: “Europe is the sum of the solutions adopted to address the crises it is faced with.” The European clock is ticking down and the EU must take action at the June Council in two weeks’ time or at the latest at the December Summit, otherwise the European electorate will punish its politicians for their slow reflexes at the European elections in a year’s time, leading to a generalised crisis of confidence in the European Union.