The European Parliament will also play a leading role in the context of the proposed revision of the Single Rulebook’s legislative pillars: the Bank Recovery and Resolution Directive (BRRD), the Capital Requirements Regulation (CRR) and the Capital Requirements Directive (CRD IV).
The Single Market and Brexit Let me now turn to the repercussions of Brexit, which you have asked me to address in more detail. For both the euro area and the United Kingdom, the Single Market has been a fundamental asset and a positive sum game. Bringing together European economies has allowed the European Union to reap efficiency gains and better satisfy demand.