You will most likely have explored this issue in much greater depth early on today. As I mentioned earlier, the SSM is only the first pillar of the European banking union. The second is the European Single Resolution Mechanism which will deal with future bank failures. This mechanism has been operational since 1 January 2016.
Pakistan has adopted a sectoral approach to microfinance in Pakistan and assimilated learnings from the experience of other developing countries which have been active in this area for decades. Microfinance is still in its infancy and has a long way to go. Some momentum has been built up during the last three years as bulk of the disbursements has taken place since June, 1999.