Publication

Director Jean Pisani-Ferry and Senior Resident Fellow Nicolas Véron contributed this chapter to Policy Network's book The EU in a World in Transition: Fit for What Purpose?, edited by Loukas Tsoukalis. Pisani-Ferry and Véron make several key points: The IMF will never recoup the central role in global governance that it was assigned by the Bretton Woods system, as the G20 has taken over as the main vehicle for global cooperation; Europe should prepare for a significant offer regarding its representation within the IMF so that emerging economies such as China, India and Brazil are more willing to buy into the system; and exchange rate surveillance is one area in which Europe should be able to play in integral role in brokering agreements between the U.S. and Europe.