[quote]At the most basic level the desire is to break the "doom loop" whereby bank failures are allowed to threaten the financial health of governments such as occurred in Ireland. The aim is that taxpayers should never again bail out the banks. Over the main years of the crisis, European governments risked a staggering 1.5tn euros (£1.3tn; $2tn) propping up the banks. But the ambition is much broader than that. It is to give European authorities the power to supervise banks and wind them up. A banking union will involve giving up another chunk of sovereignty and, to a degree, sharing the risks of other countries' banks. It deepens economic and monetary union. One principle has been agreed: that shareholders, bond holders and even large depositors will be first to lose money.[/quote] So the goal is stop the Tax payer from bailing out failing banks, make the banks pay for their own bailouts and for those at the top to lose money before the rest of the population. Do you agree with that goal?