Whereas in the past it was possible to solve any problem, whether genuine or imaginary, by increasing expenditure and the government debt, the need to maintain the declining path of government expenditure-albeit not absolutely but as a share of GDP-raises new issues all over the world, for example: –  Should the social services that the government provides be extended universally or depend on a means test?
And there is something wrong with markets that are not properly understood by their participants  2  Andrea M. Maechler and Li Lian Ong (2009) “Foreign Banks in the CESE Countries: In for a Penny, in for a Pound?” IMF Working Paper 54/09. 3  Carmen M. Reinhart and Kenneth S. Rogoff (2008) “Is the 2007 U.S. Sub-Prime Financial Crisis So Different?