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Europe and the EU have played an influential role in the development and decision-making of the Group of Twenty (G-20). Europe’s influence in shaping the developments in the group and, more broadly, in global governance is, however, declining. The G-20 Summit in Cannes provided Europe with an opportunity to re-assert its leadership. Its aspirations were, however, overshadowed by internal divisions heightened by the deepening European sovereign debt crisis.

The key question for Europe is whether it will manage to Europeanize the G-20 and gear it towards the multilateral principles which lie at the heart of European integration; or whether we will see the opposite process, namely a ‘G-ization’ of the EU in the sense of major (European) powers dominating increasingly informal European and global decision-making.