Title: The EU and the governance of globalisation

Authors: Alan Ahearne, Jean Pisani-Ferry, Andre Sapir, Nicolas Veron

Addresses: Department of Economics, National University of Ireland, Galway and Bruegel, University Road, Galway, Ireland. ' Bruegel and Paris Dauphine University, 33, rue de la Charite, B1210, Brussels, Belgium. ' Universite Libre de Bruxelles and Bruegel, ECARES, Avenue F D Roosevelt 50, CP114 1050 Brussels, Belgium. ' Bruegel, 33, rue de la Charite, B1210, Brussels, Belgium

Abstract: The system of multilateral rules and institutions that constitute the global economic governance regime trails the rapid transformation of the world economy. That system needs to adapt to geopolitical changes and to a growing number and diversity of participants in global economic integration, and must coexist with regionalism and market-led governance. Globalisation could proceed with weak global governance, but not without significant risks to its sustainability. The EU, which has a stake in the multilateral system and most likely a comparative advantage in institutional design, should be a key player in its reform agenda. The difficulty of the task is no excuse for avoiding it and for hiding behind US leadership. To equip itself with the ability to take initiatives towards reform, the EU requires changes in its own internal governance and its external representation. Contrary to conventional wisdom, these changes need not imply a federalisation of external relations.

Keywords: European integration; global governance; European governance; globalisation; European Union; EU; external relations.

DOI: 10.1504/IJPP.2008.017129

International Journal of Public Policy, 2008 Vol.3 No.1/2, pp.118 - 139

Published online: 15 Feb 2008 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article