Even less does that apply to any lender-of-last-resort function, however that may be defined. Although it is involved in banking supervision, it is not responsible for the decisions itself, either. In other European countries, most central banks are more directly involved in financial market supervision and banking supervision. Historical-induced differences in the “supervision culture” likewise affect the attitude towards a lender-of-last-resort function.
This debt increase is apart from possible banking bailout costs, and is a result of an inevitable collapse in tax revenues as well as countercyclical expenditure policies.