The options are higher investment levels financed by domestic savings, productivity growth, and increased competitiveness, or stagnant real incomes as rebalancing occurs through the exchange-rate mechanism (or a large dose of domestic deflation in the debt-distressed eurozone countries, since they do not control their own exchange rates).
Viele dieser Strukturprobleme blieben vor der Krise unsichtbar, wodurch sich sowohl Reaktionen des Marktes als auch der Politik verzögerten.