Euro Area may on the surface seem to 'recover' from the previous crisis but the underlying debt issues have not really been solved. If not for the QE, the debt issue would have spin out of control. Now that the possibility of QE is coming to an end, the debt issue resurfaced again.
This seems a sensible step forward to strengthen the EZ. ("The global view of joint currency unions states that you need to have some kind of element of last resort") given that Germany has been less than enthusiastic about implications for German taxpayers of previous moves to cover this.