From a political economy perspective, it seems that the debate about reigning in imbalances through more surveillance and policy coordination risks drawing political commitment away from the efforts to reform financial markets I have just outlined. If this were to happen, we would have cause to be truly concerned.
4  Imminent challenges: exit from the rescue measures  Finally, I would like to make a few comments on the question of exit strategies. Given the macroeconomic outlook, there is surely no need to rush for the exit at the current juncture. However, to stabilise expectations and to safeguard public confidence it is essential to develop a credible exit framework now.