Global Debt Crisis: Can a Collective Currency Devaluation Do the Trick?
I agree that there is a slim chance that everyone will get their act together and orchestrate the required efforts to "mend" the current broken system. But unfortunately, the nature of the national financial and economic systems are so interlocked into the much bigger global economic and financial systems, which means that only concerted and collective effort can work. After all, world powers did it before, several times, agreeing to the Gold Standard, Bretton Woods I and Bretton Woods II. It takes leadership and courage. But it is what the world needs now. Fingers crossed.