In particular, the EU-IMF programme endorsed the overall policy approach to banking, while facilitating a more rapid and far-reaching implementation of this strategy. The central aim remained to recapitalise, resize and restructure. First, capital was being injected to reach the newly increased capital standards. Second, an explicit strategy for downsizing and reorganising the banking sector was to be implemented.
There is growing consensus 7 that the flexibility provided by derivatives, whereby risks can be traded separately, has the potential to facilitate risk-sharing, to enhance the efficiency of risk management, and to promote market completeness.