Thank you very much. First of all, I would like to take the opportunity to thank Dr.

Albertina, Alborz Lawrence, and Dr. Markis Carey for inviting me here, and for being here,

for having such a wonderful community of European and competition lawyers. The idea of presenting about the impact of the current crisis came to me after doing some presentations

to my undergraduate and postgraduate students, considering the recent developments in financial markets

and precisely the Commission intervention via state ad in restructuring banks.

So I thought about writing something to challenge the doctrine, what I call, the doctrine

or the theory of too big to fail, and whether it has constitutional legitimacy in the treaty.

And obviously, after including certain aspects concerning the economic and social impact of the current crisis,

I kind of felt that the title deserved to be broader.

So that's why you find that it's not about the impact, it's about the social and economic

cost of the crisis.

The paper is obviously broader in scope and the methods I was looking at an in

interdisciplinary perspective of what has been identified as the root of the crisis in

different areas of law. For example, in banking, finance, I felt that the investigations

currently going on about credit before swaps were not something I was a specialist from a competition point of view,

so I needed first to see the responses to the crisis from the financial banking perspective.

And the same goes on with corporate governance, from a corporate governance perspective,

there are certain issues that

have been expressed in this regard so the first part looks briefly at the nature

of the banking crisis then it goes there with the catalog or classification of

of of courses or what in fact went wrong in the current crisis.

And then I have created the scenario because I also taught in the past contract law

...