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The stars of the European Union (EU) sit on a flag flying outside the European Commission building in Brussels, Belgium, on Saturday, April 23, 2016. European Union policy makers need to standardize insolvency laws across the bloc if new bank-failure rules are to work effectively, according to Elke Koenig, head of the euro area's central resolution authority. Photographer: Jasper Juinen/Bloomberg via Getty Images

The stars of the European Union (EU) sit on a flag flying outside the European Commission building in Brussels, Belgium, on Saturday, April 23, 2016. European Union policy makers need to standardize insolvency laws across the bloc if new bank-failure rules are to work effectively, according to Elke Koenig, head of the euro area's central resolution authority. Photographer: Jasper Juinen/Bloomberg via Getty Images