It goes without saying that I, too, prefer optimal solutions, but – to put it bluntly – regulators and central banks do not live in the “land of Make-A-Wish”. The scope and complexity of the individual and mutually dependent issues which have had to be, or remain to be, solved in an overall package are sometimes like a Gordian knot.
Unlike Alexander the Great in the legend, however, the G20 states have no magic sword to cut through the knot, and a reasonably timely approach that can be implemented at the global level is perhaps only a first step that may be followed by others at a later point in time.