10.1 Introduction

One of the key observations made in the previous chapter was that non- compliance with the criteria of the Impaired Assets Communication (IAC) had to be compensated for by far-reaching restructuring (also referred to as in-depth restructuring1). Also outside the context of the IAC, there are factors that point at the need for far-reaching restructuring. Indeed, in several decisions, the Commission explicitly considered that far-reaching restructuring was required. This observation raises the question: when is far-reaching restructuring needed (and why)?