The recovery of the global financial sector is accelerating. Europe's top financial centres, such as London, Paris and Frankfurt, are profiting from this upswing. A study by the Landesbank Hessen-Thüringen has revealed that the number of banks in Frankfurt fell more sharply after the dot-com bubble burst at the beginning of the millennium than it did after the recent financial crisis. At the end of 2009, 227 domestic and foreign financial institutions were based in Frankfurt - almost as many as at the end of the previous year.
Still, Europeans must be careful not to miss the boat when it comes to a recovery. The countries of Europe understand that they must bundle their strengths and join together to represent their common interests. To this end, Frankfurt can contribute its in-depth expertise in risk management and regulatory issues.
