The process of integration cannot be allowed to stall again. Moving from broad principles to more practical issues, a number of challenges lie ahead for the Single Supervisory Mechanism. Let me mention a few. a. The SSM will need to establish common regulatory and supervisory practices, consolidating the level playing field and removing the barriers that prevent the integration of the European banking sector.
This temporality is well adapted to academia because searching for the truth is a very long-run objective. Policy-makers however do not have the luxury of a long time horizon, and would get much help from more big thinking in academia. Unfortunately, these different temporalities have an impact on economic thinking.