With the tax cuts already showing up in paychecks, increases in transfer payments already in place, and grants to states and localities starting to flow, the effects of the package on aggregate demand should start to provide some support to activity fairly quickly. Thus a broad range of policies are in place to foster recovery.
I am convinced that sharing sovereignty on the European level means ultimately regaining sovereignty for the Member States and that this may also hold true in a global context in a longer term perspective. For responsible governance, the G20 might need first and foremost to develop a set of common values at the international level in the name of which action could be taken.