- More cooperation in European fiscal policy justified
- Most of bank supervision to be delegated to national supervisors
- Credible banking union plan may help solve current crisis
- Rapid combinaton of national deposit protection systems not possible
- Common deposit protection could start with big banks
- Inflation expectations have remained moderate in euro zone
- Debt yields based on doubts over euro’s future “unacceptable” (what ya gonna do about it big boy!!)
ECB’s Liikanen: Banking union a loooooong-term project
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- ECB