GLOBAL GOVERNANCE

The Europe's World panel on global governance

Spring 2010
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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1 COMMENT(S)
  • John

Corruption and mis-handling of the world's finances and resources is a sad reality.

By L DW on 10/13/2010 15:54
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