If such a freedom, genuine freedom is given to public sector banks, would the benefits be more or less, to all concerned, i.e, owner and work force? (f)  Public sector banks have an element of public sector accountability and institutional factors operate differently for different banks.
As a result, large parts of the sector now fully comply with the minimum capital requirements under Basel III well ahead of 2018. The remaining weakness will be addressed in the near future, and once the architecture of the banking union is operating after our comprehensive assessment of banks’ situation, I expect that the European banking sector will be in a solid shape.