Root cause of the global financial crisis

The problems occuring in many countries are inter-related. Starting with the meltdown of the housing bubble in the US and Europe, we now see the problems with the government deficits in Greece and other countries. The crisis has been temporarily managed with the huge injection of public funds, but this increases the public debt and many observers expect that things will get worse in the months ahead.

What causes all of these problems? Was it deregulation? Was it deficit spending by governments? What is a possible solution? Please share your views?