12.1 Introduction

The Commission’s assessment of the restructuring plan is based on three pillars. This chapter focuses on the second pillar. The second pillar of the Restructuring Communication requires that the restructuring costs and the amount of State aid are limited to the minimum necessary, and that there is a sufficient own contribution by the beneficiary bank. This own contribution is also referred to as ‘burden-sharing’: the State (and ultimately the taxpayers) should not bear the burden alone. Instead, the State on the one hand and the beneficiary bank (and its shareholders) on the other hand should each shoulder an appropriate share of the burden.1