Although initially overshadowed by the headline issue of bank supervision in Europe, experts considered bank resolution (bankruptcy management, restructuring and closure) to be key for Banking Union to work successfully, alongside a European Deposit Insurance System (EDIS) (Donnelly 2016). Resolution and deposit insurance contribute to financial stability by preventing further contagion throughout the financial system when a bank becomes insolvent. They therefore complement the SSM and constitute core components of a Banking Union (Véron & Wolff 2013; Baglioni 2016). They also complement each other, since both manage the affairs of insolvent banks.