The focus should also be on fiscal initiatives that have a durable growth-enhancing capacity and structural reform, and not simply fiscal impulses for their own sake. Unfortunately this is easier said than done. In order to avoid a replay of 2008, there needs to be a cohesive understanding of the situation, and a unity of purpose at the global and national levels.
An effective response requires confidence and trust in leadership, and this appears to be lacking. The fractious nature of political processes seems to be making it  BIS central bankers’ speeches  3  difficult to have the level of coordinated and purposeful responses that the crisis demands.