The EU’s fleeting chance for global leadership

The economic crisis offers unprecedented opportunities for reforming global rules and institutions. Furthermore, the Obama presidency - which Europeans expect to be less unilateralist than that of George W Bush - will give the EU a chance to work with the US in tackling a host of international problems. But the EU may prove incapable of rising to either challenge. It may not be able to agree on a convincing set of proposals on global governance. And if Obama finds the EU ineffective - for example, unable to provide more troops for Afghanistan or to speak with one voice on Russia - he will not treat it as a serious partner.