As the acute phase of crisis management and resolution draws to a close, it is time to start thinking how we might learn the lessons about our society that an understanding of the crisis can give us.
Specialisation can help deliver economies of scale, increase the potential for innovation, and achieve excellence. In an environment of “coopetition” – a neologism merging the words cooperation and competition, European financial centres could cooperate, compete and, at the same time, hone their own areas of expertise. But this is a vision for the future.