Also, deregulation and better regulation that can make markets more efficient and amicable for innovation, investment, and hiring should take priority.
In the aftermath of the financial crisis, a crucial challenge will potentially be the design of programs to help the resolution of the consumer debt overhang in the United States and other countries, possibly through more expeditious restructuring and further bank balancesheet cleanups, which, in turn, may reinvigorate the mortgage and housing markets.4 By far, the most serious task is the definitive solution to the fiscal difficulties of the vulnerable EMU member states, which implies imaginative plans needed for both debtors and creditors.