- SSM designed with necessary independence to lean against localised booms
- Job of bank resolution authority could become more complicated if there are doubts about resources
- SRM needs solid public backstop
- Backstop could be the ability to borrow from market with government guarantees or access to ESM
- Wants full mutualisation of the fund in 5 years and no acceleration of payments from banks
- 10 years unduly long time to build resolution fund
Nothing really juicy yet and no trying to fill the hole dug by Mr Coeure earlier today
