7  The challenges for the banking system Aside from the difficulties of some banks in particular, the banking system as a whole is called on to face new and demanding technological and market-related challenges, on which we have often reflected. This is not only a necessity for Italy: a return to higher and lasting profits is a must for all European banks.
However, we should bear in mind that lower participation rates are not necessarily simply associated with our personal preferences but are also triggered by our legal and regulatory environment, our tax systems and our social institutions. This may, for example, explain the low participation rates of women in Europe.