Jean-Claude Juncker, President of the European Commission, has announced that the Commission will publish a legislative proposal on first steps towards establishing a common deposit guarantee system by the end of 2015. His view is that the crisis in Greece in the summer of 2015 showed the need for a European deposit guarantee system “disconnected from government purses so that citizens can be absolutely sure that their savings are safe”. The proposal will follow on from the recommendation of the June 2015 Commission report on completing Europe’s Economic and Monetary Union (EMU).