GLOBAL GOVERNANCE

Spring 2010

by Europe's World

For our global governance scorecard, a panel of 26 top political and economic analysts gave their opinions on the need for reform in global institutions. This mini-survey threw up some surprising results, and above all emphasised that top analysts can be thoroughly divided on these issues.

Most agreed that leading global institutions like the International Monetary Fund, the World Trade Organisation and the UN Security Council need reform. Of 26 analysts, 17 stated that the WTO needs to change, and 19 said the same of the UN Security Council. An overwhelming majority of 21 out of 26 believe that the IMF needs reform and seven of them think that reform should be “radical”.

When it came to other institutions, particularly the UN agencies, opinion diverged widely. Half said that the United Nations Development Programme should be reformed, but only 16% thought that the reform should be radical, while 50% said no reform at all was needed. The panel also disagreed on other UN agencies like the Food and Agricultural Organisation, the World Health Organisation, UNESCO and the World Intellectual Property Organisation,” 45% said that UNESCO needs reforming, but only 17% thought its reform should be radical. On whether new global Institutions are needed, opinion was again divided. Over three-quarters of the panellists thought that an international climate change agency is needed, but only slighty over half see a need for a carbon tax global co-ordination authority. A minority of 11 out of 26 thought there is a need for an international derivatives and hedge funds authority.

 

 

Further articles in this GLOBAL GOVERNANCE section
Pascal Lamy	Global Governance is a challenge for democracy (but an EU opportunity)
Iain Begg	Global governance could take a leaf from the EU's book
Leszek Balcerowicz	Worldwide reform means engaging public opinion first
Robert Hutchings	Why U.S.-EU economic co-operation holds the key to global governance
Paul Tucker	Ending boom and bust: The case for macroprudential instruments
The Europe's World panel on global governance
C. Fred Bergsten	The global crisis has accelerated governance reform
Daniel Daianu	G20 could turn into a global economic security body
Kemal Dervis	G20 should increase the legitimacy of the international institutions
Jirí Dienstbier	Nation states cannot meet the challenges of deregulated globalisation
William Drozdiak	An alternative is regional institutions to act in the service of global governance
Monica Frassoni	The only global governance model that would work is federal
Angel Gurría	G20 could give the momentum needed to usher in unprecedented international co-operation
Danuta Hübner	The dynamics of crisis have fundamentally altered the global financial system
Wolfgang Ischinger	We need fundamental reform of the international institutions
Sandra Kalniete	Global governance requires predictable and fair funding
Sergei A. Karaganov	Despite its decline, Europe will be a shining example of how the world should be governed
Kishore Mahbubani	Europe provides both the problem and the solution to reforming global governance
Reza Moghadam	We at the IMF have already begun the process of reconciling effectiveness and legitimacy
Jean Pisani-Ferry	After a brilliant start, global co-operation and governance may disappoint in the years ahead
Hans-Gert Pöttering	The European Parliament must play a central role if we want a democratic model of global governance
Jiang Shixue	China would never accept the idea of a G2
Danilo Türk	We need global institutions capable of making international co-operation inclusive
Guy Verhofstadt	Integration that transcends borders is the logical response to 21st century realities
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