The Path to Financial Re-Regulation

Rebuilding trust will be the core challenge for Europe, the European Commission, global leaders, and the financial services industry over the next five years. The task won't be easy, for it requires striking a balance between regulation to correct the failings that we have witnessed and the need to preserve dynamic and innovative banks and markets.

BRUSSELS – Today, some people are saying that the storm of the financial crisis is subsiding. I am not so sure. Interbank lending rates are slowly coming down, but they are still far higher than they should be, share prices continue to be volatile, and conditions in global markets remain fragile.

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