“My 10 point rulebook for the globalised economy”

• There is no need for a return to state collectivism, but collective decisionmaking should be as international as possible with a maximum level of transnational cooperation. 
• Governments and political parties should advocate and organise a new complementarity of market and public authorities. Modern societies are in search of "co-opetition", an intelligent mix of cooperation and innovative competition 
• More legislation is needed to monitor and control the financial sector, but it should avoid cross border regulatory arbitration. 
• Protectionism in all its forms must be resisted worldwide. 
• More Europe is needed, i.e. by the approval of the Lisbon treaty and strengthening of EMU. The United Kingdom should be allowed to join the EU’s monetary union while keeping the pound trough the creation of a Euro-Sterling zone. 
• Closer cooperation between multilateral agencies is highly desirable: IMF, World Bank, WTO, G20, Eurogroup, leading towards a Bretton Woods II. 
• In the short run the banking system should be stabilised by means of: government loans, state guarantee, the creation of a "bad bank' and temporary nationalisations. Savings banks should be separated from risky investment funds and central banks should apply negative interest rates on the incoming liquidities of commercial banks to encourage them to maintain inter-banking credit flows. 
• Keynesian recovery measures are called for, but governments should watch out for possible strong inflation, increases of public debt and huge budget deficits, all of which are incompatible with financing the Europe's ageing of its population. 
• Considerable promotion and encouragement are needed for research and development, clean energy, environment, infrastructure, education and healthcare. 
• More ethical behaving has to be promoted in business and financial decisionmaking. Let us fear our own fear. Apprehension with respect to apprehension is now required. We must believe in hope. Please neither pessimism nor naive optimism, knowing moreover that an optimist often happens to be a wrongly informed pessimist. I am advocating meliorisme, based on the firm conviction that people and things can be ameliorated.