For the topic of regulatory reform, I want to paraphrase that quote as follows: “Every search for a solution must begin with something which every solution requires, a problem”. We all know that the problem in the banking system was the financial crisis and in my view, the solution is regulatory reform.
Let us therefore take a closer look at what has been done in post-crisis reforms in Europe and beyond. 2. The first mission: regulatory reform  One of the main lessons from the financial crisis was that the rules of the banking system were insufficient.