From a legal perspective, this ensures continuity and equal treatment, from an economic perspective, the logic of lasting convergence has not changed and is all the more important when countries are at different stages of economic development.
So that was the judgement at the time. If the same question were to be asked today, the answer would be extremely different because now we do have international consensus, we have European consensus, and as a matter of fact we have European law (i.e. the Bank Recovery and Resolution Directive). So we’ve moved on.