The extent to which this happens hinges on a large number of factors – for example, on how far the capital buffers exceed the regulatory minimum, on the willingness of the banks to let these buffers “breathe”, and, naturally enough, on the use of alternatives, such as raising additional capital.
A number of steps of this kind to set up institutions which facilitate regionalism are being taken both by governments, government related institutions and by the private sector. These are the kinds of tripartite initiatives which we need to ensure that the appropriate framework for the smooth functioning of the CSME is property enabled.