[41] Indirectly, fiscal measures taken in the banks’ home markets also stabilised the host markets of the Baltics. In Estonia, this supported fiscal authorities in maintaining sound fiscal finances as no costly bailouts of domestic banks were needed.
Moreover, there is a need for expert judgement, which will be a scarce commodity at the outset.29 There are also requirements in terms of the legal framework in countries in enabling the imposition of macro-prudential  24  For a discussion of policy practices internationally, see, for example, Honohan and Laeven (2005).