A report in the Australian summarises an article in Science, stating that coral reefs are unlikely to survive the next few decades. The meeting I went to in Cairns had a marginally more optimistic view. If we can drastically reduce other pressures such as overfishing and nutrient pollution, reefs might be sufficiently resilient to recover from bleaching events and other consequences of global warming.
All of these pressures act cumulatively. Bleaching kills corals, excess nutrients encourage the growth of algae which prevent new corals from establishing themselves and overfishing removes herbivores that eat the algae. A big reduction in nutrient and fishing pressure might offset the more frequent occurrence of bleaching events.