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The New Global Economic Governance: Can Europe Help Win the Peace?

Author

Listed:
  • Marco Buti

    (Head of Cabinet of the European Commissioner for Economic and Financial Affairs)

Abstract

Global economic governance has evolved dramatically in recent years. While there was common agreement on what to do when the crisis broke out, since its end the G20 has been struggling to maintain its relevance. We argue that it is high time that the international community shifted its focus from "winning the war" - i.e. responding to the 2008 crisis - to "winning the peace" - i.e. overcoming the legacy of the crisis and creating conditions for strong, sustainable, balanced and more inclusive growth. Making the case for global cooperation in a multilateral context is all the more critical in the context of rising populism and protectionist threats. But how can global governance become more effective? And what should be the role of the European Union (EU) in this process? Can it be in the lead and help "win the peace"?

Suggested Citation

  • Marco Buti, 2017. "The New Global Economic Governance: Can Europe Help Win the Peace?," Working Papers 1282, Robert Triffin International.
    • Handle: RePEc:afh:wpaper:1282
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    File URL: https://www.triffininternational.eu/images/RTI/articles_papers/RTI-CSF_Buti_July2017.pdf
    File Function: First version, 2017
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    More about this item

    Keywords

    governance; globalization; economic cooperation; G20; Triffin;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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