The Copenhagen conference was an unmitigated disaster as an exercise in global governance.  The only hope is that it will act as a wake-up call for a real effort to be made to establish a system.
The exercise was doomed from the outset. 
• We are still trying to solve the problem without fully identifying and agreeing upon [...]

A G20 summit was held in Pittsburgh on 24-5 September 2009.  Hosted by President Obama, there was quite a turnout.  Leaders in attendance were:
States
Argentina   Cristina Fernández de Kirchner President 
Australia   Kevin Rudd     Prime Minister 
Brazil   Luiz Inácio Lula da Silva  President 
Canada   Stephen Harper    Prime Minister
China   Hu Jintao     President
France   Nicolas Sarkozy    President 
Germany   Angela Merkel    Chancellor 
India    Manmohan Singh    Prime 
Indonesia   Susilo Bambang Yudhoyono  President
Italy   Silvio Berlusconi    Prime Minister 
Japan   Yukio Hatoyama    Prime Minister
Mexico [...]

European Union countries hold:
 
·              two of the four UN Security Council permanent seats
·              four out of seven G7 seats
·              four plus the EU in the G20
·              31.7% of IMF voting
·              In practice the right to appoint the IMF president
 
However, the collective weight and influence of the EU and its Member States does not reflect this [...]

The following will shortly be published in the College of Europe’s new e-journal, EU-China Observer:
 
Now that the dust has settled, the results of the much heralded G20 summit in London on 2 April can be reviewed.
 
There is consensus that there are grave, linked economic and financial crises. There is no consensus on their causes nor [...]

Gordon Brown, in a whirlwind trip to Brussels and the Americas, is seeking to ensure that there will be broad consensus at the G20++ summit in London next month on, in particular, stimulus packages and new regulation. 
 
There is consensus as to the existence of a global economic and financial crisis, but on little else.  [...]