In this article the authors stress the general centrality of the state for the functioning of the financial sector. This centrality is essential in times of crisis as well as in normal times, but it becomes more visible in the moment of a crisis. Building on this premise the authors analyse under which conditions and in which form the current crisis can be overcome. They come to the conclusion that the crisis although severe does not necessarily mean the end of neoliberalism and even less so the end of US hegemony. However, against the background of the current crisis-prone development there is the possibility that social inconsistencies could come to a head. This could be the basis of policies which might entail a radical transformation of the financial sector as well as the beginning of structural economic changes.
