The financial crisis showed the need to change how we look at risks in the financial sector. In Europe, new supervisory authorities and a macroprudential body have been set up to keep the financial system stable. More data and a new way of thinking are needed to understand and prevent big financial problems. Traditional economic theories didn't predict recent crises well. It's too early to know how well the new system will work, but it should help bring trust back to financial markets in Europe.