Angeloni, Ignazio, Pisani-Ferry, Jean.
The G20 acted as a crisis manager when global financial markets were under threat in 2008 and 2009, and contributed to a positive outcome. However since then, in the more routine work of crisis prevention, its performance has been less convincing at best, and criticism of its effectiveness has increased.
Nevertheless, a global governance forum such as the G20 is necessary. Allowing the G20 to slide slowly into irrelevance would be unfortunate because a global crisis manager is once again needed, this time to deal with the European sovereign-debt crisis.
Πηγή: Bruegel