We all know the trigger point of the crisis, being the US sub-prime housing market and its subsequent spread through the banking sector and financial markets. The collateral damage has been of unimaginable proportions.
The new banking regulations are intended to discourage speculation; they are not a reason not to finance the economy. Should we borrow at the European level in order to invest? Investment should primarily be in the private sector, so the priority, again, should be the creation of a favourable environment.