And that homework has been very well documented, particularly at the global level, at G7 meetings. 25) What can Europe and the United States do? Answer: Europe should implement structural reforms to elevate the level of its growth potential. The continent has a lot to gain in doing that, growth, more prosperity and more job creation.
The United States has to address its fiscal imbalances and deal with the issue of the low level of savings in the overall US economy, which is a major issue. And it is also true for Japan and the rest of the world: we all have homework to do in order for the global imbalances to unwind in an orderly way.