The primary aim of the banks involved has been to present themselves more effectively in the face of European and global competition, as well as the wish to open up new markets and new lines of business. I may mention, as the most recent example, the announced takeover of the Norwegian Christiana Bank og Kreditkassen by the Finnish-Swedish-Danish financial group Merita Nordbanken.
International developments Since the publication of our previous Annual Report this time last year, the turmoil in financial markets has developed into a full-blown crisis and policy-makers everywhere have taken unprecedented steps to restore stability to their banking systems so as to limit the damage to the real economy.