To conclude, the 2008 global and financial crisis has shown the need for more global solutions. Global leaders have shown their ability to respond to this need. 13  See Hertie School of Governance, Governance Report 2013, Overview, p. 3.
As I said earlier, while there are signs of wage pressure emerging, they remain localised for now. There is a risk that it may take a lower unemployment rate than we currently expect to generate a sustained move higher than the 2 per cent focal point evident in many wage outcomes today.