The Transatlantic Relationship in an Era of Growing Economic Multipolarity

Conference cohosted by the Peterson Institute for International Economics and Bruegel

Mario Draghi, Bank of Italy, Financial Stability Board, and European Central Bank
Marco Buti, European Commission
Anders Aslund, Peterson Institute
Jean Pisani-Ferry, Bruegel
Nouriel Roubini, Roubini Global Economics

Peterson Institute for International Economics, Washington, DC

October 8, 2010

The Peterson Institute and its close partner Bruegel cohosted the conference "The Transatlantic Relationship in an Era of Growing Economic Multipolarity" October 8, 2010. The conference was supported by a grant from the European Commission and coordinated by Adam S. Posen, Jacob F. Kirkegaard, and Nicolas Véron.

The conference objectives were to assess the new global challenges facing the transatlantic partnership that has previously dominated the post-war world economy; analyze the rise of outside actors of potentially equal, or even greater, economic weight, their increasing role and concomitant demands for greater influence over global governance in key policy areas; and discuss possible policy actions to promote a substantive EU-US bilateral economic and political relationship along with constructive external engagement with the world’s new rising economic poles.

The conference explicitly addressed four current transatlantic disputes with significant global implications: the persistent European overrepresentation in the governance structure of international financial institutions, especially the International Monetary Fund; the design of new global rules for the banking sector; the scope and timing of fiscal austerity measures, and the approach to addressing climate change.

Additionally, Anders Åslund presented the conclusions of his latest book, The Last Shall Be the First: The East European Financial Crisis, at the conference.

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