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Owning a small business has always been a challenge — half wind up failing within the first few years.
It's true that a good movie should be able to stand on its own, but the simple truth is we all know that lots of great movies get made but wind up failing to find an audience for all sorts of reasons unrelated to the quality of the film itself, just as we know plenty of bad movies succeed for reasons besides the inherent quality of the picture.
Finally, alongside such preventive measures, Europe needs to step up its contingency planning in case banks wind up failing.
Summits in October and December are due to discuss whether and how fast to move towards more risk-sharing, for example by pooling funds to help wind up failing banks and to guarantee deposits, or by mutualising sovereign debt.
Further down the road, the gameplan is also that the ESM becomes the eurozone banking resolution authority i.e. the money is used to restructure or wind up failing banks along with a resolution levy put up by the banks themselves in the aim of avoiding direct taxpayer-funded bank bailouts.
She favours a banking union but not necessarily with a common resolution fund to wind up failing banks.
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After a spade opening lead, South had no chance and wound up failing by two tricks.
In Mr. Schäuble's view, a banking union — originally a three-step plan to create a single euro zone banking supervisor, a unified system for resolving problem banks and a single deposit-guarantee program — makes sense only if there are strict rules for restructuring and winding up failing banks.
Its stress tests gave a clean bill of health to banks that were later poleaxed in Belgium, Spain and Cyprus.It is only now, nearly four years after the collapse of Lehman Brothers, that the commission has issued a proposal for an EU-wide system of restructuring and winding up failing banks, to take effect in 2018.
Having the means to stabilise failing banks and wind up failed ones would break the feedback between weak banks and weak sovereigns.
Many smaller countries believe that the decision to wind up a failing bank should be taken by an EU-wide institution and that means the Commission.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com