The first requirement is that the Fund should concentrate less on correcting a market outcome that has already occurred. Instead it should try to influence the ex ante setting in which the financial markets operate and to improve their functioning. That begins with improved prevention.
Following the adoption of a concerted European action plan on 12 October 2008, euro area governments announced national measures to support the banking sector. These measures consist of government guarantees for interbank lending, recapitalisation of financial institutions in difficulty, increase the coverage of retail deposit insurance and asset relief schemes.