Unfortunately, the answer is still “up to the stars” – and I am not an astrologist. The events during the recent crisis, however, may indicate which issues may need to be addressed. The first one is the optimal level of coverage, which comes down to the right balance between consumer protection and moral hazard.
Clearly, the recent increases in the level of coverage during the crisis were necessary in order to protect consumers and to restore financial stability. But these measures have given rise to moral hazard, particularly when the coverage became unlimited. The perception may be that higher government guarantees will be available in future crises as well.