In summary, I take a positive view overall of the post-crisis reforms that will soon be completed. Taking this compromise as a starting point, we now have to look to the future – for it is well known that the challenges for the banking sector are considerable.
With regard to regulations, we must not give in to those who want to turn back the regulatory clock. But nor we must not go on tightening the screws of regulation ever further. I am therefore in favour of a regulatory break after the reforms have been completed.