Financial regulation can't be one size fits all - Gokarn

"This was not a financial crisis around the world," said Gokarn on the sidelines of a meeting of the Institute of International Finance in Vienna. "It was a financial crisis in some countries which spilled over."

"So each system has to evaluate what its core problems are and what it needs to do to end recurrence," he said. "This does not mean that the same solution is going to be appropriate for every system."

"Each system has its strengths and weaknesses and we have to take this into account," he said.

Source: Reuters.