It is certainly not over-regulation that has caused the financial crisis! Financial market regulation will rather now become an urgent priority for policy-makers around the globe.
As a Christian Democrat who believes in the social market economy, I always call for caution in this respect, especially when I see now some countries praising the State as the right response for everything.
But you and your lobbyists [CEO's of european telecom operators] should be aware that the times when one could simply say “no regulation” to have policy makers and public opinion on your side, that these times are over now.
Viviane Reding, comissária da EU para as telecomunicações, 25Outubro2008