Unfortunately, a binding timetable that would entail a fundamental reconfiguration of the European banking landscape has met with reservations. But it is key to ensuring the stability of the European banking system and the successful transmission of the ECB’s monetary policy decisions. So do you support the creation of a European Monetary Fund? Yes, this is the other main priority for the euro area.
The idea is to manage and prevent crises more effectively. As with the European Stability Mechanism, the role of an “EMF”, or rather a European Stabilisation Fund, would be to lend money to governments under certain conditions. The key questions are: who will the decision-makers be? What role will the European Commission play? What will the governance structure look like?