Tag archive for ‘G20’
Reforming Global Economic Governance: A Strategy for Middle Powers in the G20
The global crisis has helped promote the G20 from supporting role to one of the leading forums on the world stage. This column argues that the G20 presents a unique opportunity for its medium-sized members to influence the global economic agenda – but only if they base their short-term actions on a long-term vision. The [...]
Ten Commandments for Fiscal Adjustment in Advanced Economies
The G20 communiqué stresses the difficulty of balancing fiscal stimulus and fiscal consolidation. This column – written by one of the world’s leading macroeconomists, Olivier Blanchard, and his co-author – sums up the research-based policy analysis of the issue. Advanced economies are facing the difficult challenge of implementing fiscal adjustment strategies without undermining a still-fragile [...]
Europe’s Policymakers are rushing towards the Edge of the Cliff
Lemmings are cute, family-oriented, apparently well-adjusted creatures who, most of the time, live more or less happily in the tundra. Although it is an urban myth that they commit collective suicide to control population, they certainly experience periodic mass frenzies. Driven by some deeply rooted instinctive yearning, they swarm off in search of salvation, looking [...]
Reforming Global Economic Governance — Towards Bretton Woods III
World economic governance needs to move towards a Bretton Woods III involving effective supervision of all structural imbalances by the IMF, greater resources for the IMF along with fundamental reforms of that institution, and a shift from the dollar as dominant international reserve currency. This requires cooperation between the G3 – the US, China and [...]
After the Financial Market Crisis – A Trade Union Agenda
Now that financial institutions are being subsidised by taxpayers and speculative trading is back to pre-crisis levels, breaking the economic boom-and-bust cycles should become a high priority for the European trade union movement. This needs to be underpinned by broad coalition-building, campaigns and targeted lobby work in member states. Rahm Emanuel, White House chief-of-staff, after [...]
How to Really Help Africa
Despite the enlargement of the G8 to the G20, Europe remains its largest presence. In November France will host the G20 meeting, and so Europe will have the predominant influence on the agenda. While Africa is permanently on the agenda, the question is how we might best use that moment to do something for our [...]
Time to Put the Cards on the Table
On the 31st of January 2010, it is time to put the cards on the table. The ‘Copenhagen Accord’, a document that was presented during the last plenary session of COP 15 and which serves as a basis for the international negotiations until the next climate conference in Mexico at the end of 2010, requests [...]
Good Capitalism… and what would need to change for that
The ongoing financial crisis points unmistakably to the glaring weaknesses of the present economic system. An event that seemed relatively manageable in economic terms – the real estate bubble in the United States – has brought the globalised economy to the brink of a new depression, reawakening memories of the world economic crisis of 1929. [...]
Who will run the World?
The tectonic plates of the global economy are beginning to settle into a new alignment. At Pittsburgh it was announced that henceforth the G20 would replace the G8. At Istanbul, where I have just been, Stanley Fischer, currently Governor of the Central Bank of Israel and hugely influential, used the Annual Meetings of the IMF [...]
On the G20 Finance Ministers Meeting in London
I thought you might be interested in what I had to say on Al Jazeera International about the current G20 Finance Ministers Meeting taking place in London.
After the Crisis – Business as ususal?
More and more indicators seem to suggest that as the economic crisis becomes milder (at least for now), politics and economics are moving back to business as usual. The banks are back to big profits and the bankers back to big bonuses. No more talk about the near collapse of only a few months ago. [...]
