How to deepen the single market and at the same time respect the European goal brought by the Treaty of Lisbon of building a "highly competitive social market economy"? This question comes at a time when Europe`s economy and financial markets are still severely affected by the 2008 financial crisis. The European Commission established a European Systemic Risk Board that started its functions on January 2011. This aims at correcting regulatory weaknesses by building a European System of Supervision and Crisis Management to improve macroeconomic analysis and regulatory policy in Europe. In this paper I will analyze this policy and compare it to other national and international policies with the same objectives.