European Central Bank president Mario Draghi has called for the eurozone to deepen its mutual institutions to prepare for future economic shocks.
Draghi called for a publicly funded “backstop” for the eurozone’s single resolution fund in a speech in Florence on May 11. He also said there should be a single European deposit insurance scheme. Both policies have faced opposition from German policy-makers but are backed by French president Emmanuel Macron and other senior politicians in France.
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