THE G20 AND GLOBAL ECONOMIC GOVERNANCE: LESSONS FROM MULTI-LEVEL EUROPEAN GOVERNANCE?

International cooperation is, in the long run, a necessary ingredient in the search for national prosperity. This should lead every country to look with a renewed sense of responsibility and discipline to the system as a whole. The G20 [...] would be in a powerful position to promote the global common good, and to make it prevail, including, at times, against a narrow, short-term interpretation of national interests.(1) Just as the Eurozone is a microcosm of the global economy, the dysfunctional G20 is a macrocosm of the European Council. Its members, European Union leaders, also gather for high-profile summits. Each time they promise comprehensive solutions and fail to deliver. The parallels are remarkable.(2)