A stable financial system is an absolute prerequisite for sustainable economic growth, but stability alone is not enough: as has been said before, we all want stability, but we should not want the stability of the graveyard. It also has to be profitable for banks to provide credit to the real economy.
For that, we need a more favourable business environment in Europe but we also need less uncertainty, including in the realm of regulation. The cost of equity cannot stay above the return on equity forever. Put differently, regulatory reform is necessary but it should lead to regulatory reliability.