Indeed, in “peripheral” Euro-zone countries, on which markets are now focusing, financial crises and population ageing have been taking place almost simultaneously (Chart 11). We should all be aware that, as a consequence, most of the new regulatory frameworks are to be introduced not in “a normal time after crisis” as expected, but in a stressed time. 3.2.
Implementation of regulatory reform: crisis prevention versus crisis response  Finding ourselves in such a difficult economic and financial environment, we should bear in mind that the best “prevention” may not be the best “response” to a crisis.