Global investors need certainty about the rules of the game in Europe. As regards the date when the BRRD will enter into force, I believe that starting as early as 2015 will provide more clarity and legal certainty for investors than delaying the new regime until 2018.
And since market participants will most likely anticipate the new rules even if the later date is chosen, we may as well aim at 2015 for the BRRD to enter into force. Why is a common deposit guarantee scheme not also on the agenda? The reason is that a strong resolution framework lessens the need for it, at least for the medium-term.