Hence the importance of the international financial institutions, and of fora like the G-20, in providing the table around which these discussions should take place. That of course means that the legitimacy of those institutions, in the eyes of all their stakeholders, is key.
Good progress has been made in improving the governance of bodies such as the IMF and no doubt more will be done in this area over the years ahead. The G-20, a body with a broader constituency than the G7, has taken a more prominent role.