There is sufficient bias in political systems of all varieties to substitute hope (read, wishful thinking) for possibly difficult pre-emptive policy moves, both with respect to financial systems and economic policy. There is often denial and delay in instituting proper adjustments.
Recent propensities to obscure the need for change have been evidenced by unreported declines in official reserves, issuance by governments of the equivalent to foreign currency obligations, or unreported large forward short positions against foreign currencies. It is very difficult for political leaders to incur what they perceive as large immediate political costs to contain problems that they see (often dimly) as only prospective.