In particular, the losses destabilised the finances of the State, limiting its ability to react. There have been suggestions that further blocks of banking assets could be moved off the balance sheet of the main banks.
This means the elimination of more obstacles to cross-border activities, and – at the same time – either harmonisation or "mutual recognition" of standards, in order to avoid  BIS Review 8/2002  1  undesirable competition between regions and countries. The well-known textbook example is undesirable tax competition, the so-called "race to the bottom".