"Some weaknesses in the rules governing the euro are evident. For example, the rules relating to deficit control have become increasingly complex, and yet compliance with the rules is not sufficiently ensured. The current approach, which ultimately involves relying on the goodwill of the national governments, has proved to be a miscalculation. So that economic policy can be agreed upon on a more binding basis, the EU member states must be willing to relinquish their national decision-making powers and transfer more authority to the EU. Unfortunately, there is no sign of this willingness at present. Merging the national deposit protection schemes into a common system, as proposed in the report, is completely the wrong approach. German savers’ money must not be used to protect against risks in the banking systems of other countries. Banking union must not become a transfer union. It would be useful to complete the initiative aimed at harmonizing the national deposit guarantee schemes to a greater extent, as was begun with the EU Deposit Guarantee Schemes Directive."