The Council of the European Union has released an Issues Paper on Completing the Economic and Monetary Union (paper). The paper is designed to help structure the consultations with representatives of Member States and the European Parliament on the proposed Economic and Monetary Union. The paper stated that a European resolution scheme to be primarily funded by contributions of nks could provide assistance in the application of resolution measures to banks overseen by the European supervision with the aim of orderly winding-down non-viable institutions and thereby protect tax payers' funds. The resolution scheme could be set up under the control of a common resolution authority. The European Stability Mechanism could act as the fiscal backstop to the resolution and deposit guarantee authority.