MEPs have debated and agreed a bank resolution scheme in the name of insolvency that is applicable to all 28 Member States. Starting from 2016 and achieved in a far shorter time than Solvency 2, the insolvency regime wipes out bondholders before savers. Moral hazard continues and is sliced and diced between debtors and depositholders. Such is the shibboleth of consumer protection.
There was also an exploration on the scenario for Brexit. Surprisingly, it showed greater willingness for repatriation of powers than previously considered as the Eurozone fractures and subsidiarity acquires teeth. Cameron's strategy could become more realistic if stagnation grinds on and poilitical volatility amongst the Member States increases. Of concern is the view of some Member States that this is an opportunity to undermine Britain's advantages and block access to the Single Market. The ploy was French in the scenario but one could consider such a play is the goal of a blocking majority. All to play for!