Total assets are to be reduced overall, riskweighted assets are to be scaled back and certain participating interests as well as non-core activities are to be sold. To that extent, current developments reflect progress in consolidation, which is most readily apparent where the European Commission has made government rescues subject to requirements as part of the EU state aid procedures.
Other adjustments are still outstanding. As we see it, the parts that are sustainable finally have to be put together so as to create enduringly viable institutions. We must be able to perceive whatever holds the future Landesbanken world together in its inmost folds.