On the other hand, an important question is whether effective and autonomous corporate governance is compatible with public ownership of banks. The question arises  4  BIS central bankers’ speeches  because publicly owned banks render accountability to the government and to the democratic institutions. The government judges them on criteria quite different from those used by the market.
The same seems to apply to political power. As Europe and European countries grow older, and also smaller, they continue to deny the fact that their effective power is shrinking, if not disappearing. For instance, many fora in which several European countries participate have lost relevance.