The session was chaired by Klaus Günter Deutsch (Head of Department ‘Research, Industrial and Economic Policy’, BDI) and Oliver Morwinsky (Research Associate at the European Office of KAS). Under the title “Financial and Banking Union and its importance for the completion of the EMU” Daniel Gros (Director of the Centre for European Policy Studies, CEPS), Timo Löyttyniemi (Vice Chair of the Single Resolution Board, SRB) and Oliver Schuster (Advisor of the MEP Othmar Karas) held a lively debate on the future development of the European Stability Mechanism (ESM) and the importance of diversity.