IG’s Peace Blog

Peace and its many aspects

Economic Crisis and Global Governance cont’d

Following on my previous posts about the economic crisis and how it seems to be having an impact on Global Governance, I just saw this story in the Washington Post:

Washington Post Foreign Service
Monday, February 23, 2009; Page A13

BERLIN, Feb. 22 — European leaders on Sunday pledged to establish global oversight of hedge funds, crack down on tax havens and beef up other rules as part of a reformation of the international monetary system.

Leaders from eight European countries, meeting in Berlin, said they had agreed on broad principles for bolstering the regulation of global finance in advance of a summit of the world’s leading powers April 2 in London.

“A clear message and concrete action are necessary to engender new confidence in the markets and to put the world back on a path toward more growth and employment,” said German Chancellor Angela Merkel, who hosted the meeting.

The officials were seeking to adopt a common European negotiating strategy for the summit, which will be attended by the United States, China, Japan, India, Brazil and other large economies that make up the Group of 20. (you can read the rest here )

It is very interesting to watch this process underway, even if, as I keep saying, there are no guaranteed solutions.  Some scholars talk about how success in one issue area might “spillover” to others, and, personally, I think that it is how a more peaceful world order will gradually emerge.

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February 23, 2009 Posted by | Uncategorized | , , | 1 Comment

   

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