•  Issue sufficient funds to perform the announced recapitalisations of banks. It has been stated that the government ownership through recapitalizations should be a temporary solution. When it comes time to wind up the government ownership of the banks timing can be hard; should the government for instance sell its shares, when the share prices are high, i.e.
in periods of high growth where the government typically does not have a funding need? What lies ahead? Ahead of us lies a period, where a majority of the governments in the Euro area will experience an increased need for funding, hence higher issuance from sovereign issuers is to be expected (see slide 18 and 19).