Here is our full interview with Jón Daníelsson director of LSE Systemic Risk Centre. Daníelsson discusses the nature of systemic risk, lessons learnt, or not, from the financial crisis in 2008. It’s not about too much or too little regulation but figuring out what is relevant – and simplicity is a virtue. As to 2008, mistakes were not necessarily made in 2007 or 2008 but in 2002 while the going was good. Today, the main risks seem to be Italy and the bond market – but that said, a risk is the unknown unknown rather than the things people expect to be risky.