Finally, and this indeed is a troubling thought. In a regime where the governance structures are yet to be fully strengthened and contract-enforcement through legal means difficult as well as delayed, the preference for dominant private-ownership should be accompanied by intensive efforts to strengthen efficiency and autonomy of public ownership.
The European Systemic Risk Board (ESRB) is laying the foundations of the system to prevent and, where necessary, manage situations that are critical for financial stability. The European Banking Authority (EBA) will consolidate supervisory rules and practices, which are currently fragmented at national level.