Burkhard Gnärig

26 January, 2016

One of the many clever things Winston Churchill is supposed to have said is: “Never let a good crisis go to waste”. During the height of the financial crisis one could read this quote everywhere. What commentators usually assume, is that Churchill challenged leaders to use moments of crisis to launch in-depth change processes which would meet paralysing resistance in normal times. If we look back a few years we have to note that governments did not use the crisis to reform, let alone transform, the global financial system. At a lower level of intensity, with less popular attention, the crisis persists and it is only a matter of time until it returns into focus, making us aware that we did let “a good crisis go to waste”. MORE