Marc De Vos warns for a “tobacco scenario” for the financial sector, with taxes as an alternative for financial reregulation. Taxing bank profits merely addresses a symptom, while leaving the underlying problem unaddressed.

We’re expected to believe that regulation will not fail next time. Yet, there’s no shame in questioning your own beliefs and being sufficiently sceptical. Financial reforms as seen by official bodies today have to be implemented in the short term.

At this moment comparable conclusions to those of our extraordinary parliamentary commission are being drawn all around the world. It would really be counterproductive to lead a strategy of divide and rule.