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There's just a lot of basic bank restructuring for the new CEO to lead".
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He said Germany's bank restructuring law included strong protections for taxpayers and rigorous oversight.
A banking union and a proper euro-wide bank restructuring will draw a line under the financial bust, cleaning up balance-sheets, recapitalising viable banks and allocating losses.
"During the last two and a half years, there was no set gauge that governed bank restructuring," he said.
In Tunisia, bank restructuring leading to an increase in the size of banks have not yielded the expected results.
Sensibly, most bank restructuring programs require borrowers to show good faith by keeping payments current before they will consider restructuring.
On Friday the new bank restructuring plan was passed by Cypriot MPs.
As a result, the loans will go to its bank restructuring agency, called Frob.
Basic banking will remain free.
After the banking restructuring process during the recent crisis, only two tiny cajas remain, all the others partly merged and became commercial banks.
"The banks are restructuring and they're recovering.
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