How the EU actually worked to undermine Global South debt reforms
This opinion piece was first published by the EUobserver here.
The European Union has upheld the importance of multilateralism in various international forums recently. Yet the situation is not as it seems. The reality is that the EU is significantly undermining multilateral processes that aim to democratise and improve global economic governance.
Supporting multilateralism is not only about showing up in international summits; it depends on the positions the EU chooses to defend within these spaces.
A clear example of hypocrisy can be seen in the sovereign debt discussions.
While the EU supported declarations at the G20 heads of state summit and the AU-EU summit, acknowledging the need for a debt architecture reform, its actions in New York last week told a different story.