It has made clear that it was advising that any contribution asked of the private sector should be voluntary, as is the case. Nevertheless, and despite all financial support, which is given in the form of loans, it is clear that the task of rebalancing the Greek economy must be carried out by Greece itself.
In the Indian context, what has provided a huge systemic advantage is the fact that the regulation of key financial markets – money market, Government securities market, forex market and credit market – vests with the banking regulator i.e. the RBI. Thus the channels of interconnectedness between banks and other financial sector entities are not beyond the regulatory purview.