National banking systems should be unified, in order to separate private losses from sovereign debt, with centralized supervision and resolution authorities, as well as a deposit-insurance scheme, forming the core of a European banking union. Strong central institutions, responsible to a directly elected parliament, are needed to coordinate fiscal and economic policies.
那么，在哪些领域德国必须担起领导之责？首先，欧洲公共债务必须部分地、逐渐地共同化。国家银行体系应该统一起来，从而将私人损失与主权债务隔离，并以集中监督和清算当局（以及一个存款保险制度）形成欧洲银行联盟的核心。必须由对直选议院负责的强大的中央机构负责协调财政和经济政策。