Christine Lagarde heads the IMF but are its days numbered? (photo: dpa)

The European Union has to chart its future global role and influence

Questions are being raised about the future roles of international technocratic organisations, superpowers, and supranational political entities. The world economy has changed, ideas have evolved, and now the EU has to chart a new international role.

<i>Money for a new Greek bailout and assistance to Ukraine - both coming from the International Monetary Fund - do not signal a new era of renewed strength by international organisations. Rather, these activities indicate both the weakness of most Western governments when confronting a crisis, and the particular tendency of the European Union to rely on international technocrats, rather than taking decisive steps and showing leaders...

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Professor Enrico Colombatto
Despite the waning powers and efficacy of the old, technocratic organisations such as the IMF, it is not too late for EU authorities to chart a course through the difficult waters ahead. Ukraine is an ideal testing ground for showing leadership on a global stage
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