The 2007 financial crisis is already considered a “one in a hundred years” event. Indeed, since 1929, the world—or more precisely, that part of the world we call the West—had not experienced a situation as complex and difficult as that of recent years. Due to its intensity, its rapid international transmission,
and, above all, its economic, social, and even political consequences, the 2007 crisis will mark a turning point, both in the configuration of the financial system and in its supervision and regulation.
José María Roldán, Chairman of the Spanish Banking Association
