Every crisis offers opportunities to rethink, reform and renew structures and institutions, as well as rules and standards. The market economy will certainly survive the global financial crisis and may even emerge in better shape, but it must be open to scrutinizing or even reinventing itself. This process of regulatory reform started immediately in the midst of the crisis: advisory boards such as the Issing, the Turner and the Larosière Committees soon developed reform proposals at the national and European level (Issing Committee, 2009; Turner Review, 2009; Larosière Group, 2009). Some of them have already been adopted by law-makers or are about to be drafted as legislative proposals (European Commission, 2009a and 2009b). At the international level, a first outline of a global financial architecture came to be identifiable in the aftermath of the London G20 summit (G-20-Summit, 2009a and 2009b). Further actions to assure a sound and sustainable recovery from the global financial and economic crisis were discussed at the summit in Pittsburgh in September 2009.