Suddenly, the world encountered a severe food crisis and an energy crisis. A new risk emerged in the form of fragmentation of the global economy driven by fast changing geopolitical considerations, that brought to the fore the need for reducing dependence on any single source for critical supplies.
Eliminating the too-big-to-fail assumption by making resolution of systemically important financial institutions a credible option lies at the core of the solution. Finally, there was also problems in the management culture of banks.