• Governments must slash budget deficits decisively
• Central banks should not wait too long to raise borrowing costs
• Medicines prescribed against global recession may create next crisis
• Global recovery remains fragile, uneven
• Recovery far from self-sustained in U.S., Japan, euro zone
• Banks still fragile, recent profits may not be sustainable. Low rates may slow bank’s balance sheet clean up
• Some emerging economies in danger of overheating, should rely more on flexible fx. Should avoid capital controls