Kenneth Rogoff, Former IMF Chief Economist

After months of applying sticking plasters to the ailing global economy - have world leaders finally come up with an effective long term treatment?

In the Eurozone there's talk of a two trillion Euro stabilisation fund and a managed default for Greece.

In the US the Obama administration says it has plans to deliver job creation and deficit reduction.

Ken Rogoff is a former chief economist at the IMF.

Is it too late to avert a prolonged contraction in the industrialised world?