We will then become less compatible for other countries to establish joint collaboration, therefore, on the one side we fail to take any benefits of globalization and on the other side we only receive the negative effects.
The sustainability of the suggested new European deposit guarantee scheme has been assessed in a recent study published by the ECB.3 It states that even in the event of a major banking crisis, deposits could be secured by a common deposit guarantee fund. The fund would be financed by the banking sector.