The title of this note represents my interpretation of the process developed thus far in the management of the financial crisis by international authorities. Although, in my opinion, it is excessively focused on the banking sector. In fact, has the problem of high economic indebtedness and oversized financial markets been solved? Unfortunately, perhaps the opposite has occurred. Eight years after the start of the international crisis, we are far from considering the previous adjustment process to be finalized.
Some will argue that its dynamism—and here I focus on banks—is positive, as it prevents the financial crisis from recurring. I, however, believe it is a factor of uncertainty in itself, especially concerning the first two phases: they tend to be self-reinforcing and thus make it difficult for investors to look to the future with optimism. Furthermore, they complicate the future strategy for credit institutions.
