What Do You Expect to be the Most Significant Economic Developments in 2011?

The Economist asks:

What do you expect to be the most significant economic developments in 2011?

Here's my response. I thought I was late, so I did this a bit hastily, but it turns out there weren't many responses this week (Richard Baldwin, Michael Pettis, Hal Varian, all answers). How would you have answered?