Thanks to the new capital resources and the good quality of the assets, and under the guidance of the completely overhauled governing bodies, the bridge banks to which the businesses were transferred resumed lending to the local economies, as the banks in crisis had no longer been able to do so.
The new banks had their bad debts written off and were recapitalized, thereby creating the conditions necessary to make them attractive to investors. In approving the rescue package, the European Commission requested a very brief time frame for the banks’ divestment. This procedure has begun over the last few days.