All things considered, it is extremely important to establish the functionality of the Single Supervisory Mechanism (SSM) as well as a single restructuring and resolution regime for banks. 1  Korte, Joseph (2013): Catharsis − The real effects of bank insolvency and resolution. Deutsche Bundesbank Discussion Paper No. 21/2013.
BIS central bankers’ speeches  3  It is my firm belief that Europe has to make a success of this project and that it cannot afford to get off to a bumpy start. The banking union is anything but a quick-fix solution to the current crisis.