Some of the key elements might include: (i)  Requirement that the minimum capitalization for banks should be N25 billion with full compliance before end-December 2005 (that is, 18 months notice rather than 12 months normally given in many countries). •  Only the banks that meet the requirement can hold public sector deposits, and participate in the DAS auction by end 2005.
But: In 20 years, do we want Europe’s economy to be served by 50 banks – all of them much too big to fail – and not interested in financing rural development? Or do we want a robust sector with several thousand institutions – with very different business models, serving the different needs of different customers?