Against this background, the world can only extricate itself from this complex problem by a coordinated effort applied from three different levels: Firstly, many macroeconomic deficiencies were exposed in a number of countries that in the end suffered most from the global financial crisis.
It is dangerous to generalise the shortcomings as they would obviously differ from country to country and would therefore also require specialised treatment suitable to the underlying situation in each one of the affected economies.