That is a defensible position, but market and indeed general public confidence in the system has taken such a knock that to insist on it would surely be to tie one’s hands behind one’s back also during the transition. For this reason alone the task must be seen as the creation of a much more robust regime for the long haul.
The projection of global economic growth in the World Economic Outlook (WEO) Update released in July by the International Monetary Fund (IMF) has been revised somewhat downward for 2015 relative to the April 2015 WEO, but the projection that the growth rate will accelerate toward 2016 is unchanged.