Christiania Bank major financial crisis in Norway and by 1991 the bank had used up all capital. To save the bank, the Government of Norway took over the bank and gave it new capital, rescuing it from bankruptcy. In the early years of the 1990s, the bank also bought Sunnmørsbanken and Sørlandsbanken. In 1995, the government reduced its ownership to 51%, listing it on the Oslo Stock Exchange, and in 1999 to 35%. The same year, the Swedish MeritaNordbanken bid for the bank, and in 2000 the government sold its shares and the bank became part of Nordea. Christiania Bank was at
European Capital of Culture study conducted for the Commission, known as the "Palmer report", demonstrated that the choice of European Capital of Culture served as a catalyst for the cultural development and the transformation of the city. Consequently, the beneficial socio-economic development and impact for the chosen city are now also considered in determining the chosen cities. Bids from five United Kingdom cities to be the 2023 Capital of Culture were disqualified in November 2017, because by 2023 it is expected that the UK will no longer be an EU member The European Capital of Culture programme was initially called the European City of