Life goes on and I bet that in five years time at the latest some of these “holy cows”, like EPS, NIS or Telekom Srbija will be privatized for a very simple reason – the state coffers will be empty.
Before the creation of the Federal Reserve and, later, deposit insurance, banks were forced by the marketplace to hold 20 percent and more of their assets as capital if they wanted to sell their liabilities at minimum interest costs.