Abstract

Interest in the global governance has emerged in the last decades of the 20th century, both in connection with unsatisfactory way to interpret events and change, as well as the way to resolve problems arising from the effects of globalization. State of the modern world has not acknowledged the uncritical belief in the beneficial effects of the neoliberal unrestricted freedom of the market. The problems posed in front of us today by economic globalization, and particularly the growing phenomenon of crisis and growing global finance, energy, raw materials and food imbalances increasingly tend to draw the conclusion that some minimalistic form of "control of collective destiny" is essential for survival of humanity. Overcoming globalization "teleology" simulating universality of the current world system and its mechanisms may be effected only by an active policy of the states and the non-state actors such as private companies, business associations, multinational corporations, trade unions, NGOs, that are requesting the right to vote and participate in solving common issues. Particularly, hope can also be associated with the growing influence and role of regional organizations. Global governance is a complex process aimed at building international partnership structures at different levels of decision-making: local, national, regional and global for a coordinated, collective international control environment. To act effectively a system must be coherent, dynamic and capable of overcoming national and sectoral barriers and interests. It must be democratic and based more on "soft" rather than "hard" power. The currently implemented system is too fragmented and unable to solve pressing global problems. Various intergovernmental agencies such as World Trade Organization, World Health Organization, International Monetary Fund, World Bank are operating separately. A gap caused by the lack of appropriate system solutions was partly filled by ad hoc groups of a cooperation agreement states (ie G7, G8, G20, G77) taking over the role of the steering committees of the global economy. Problems and challenges of XXI century, however, require coordination and action of qualitatively different nature. This article deals with the matter of the first experiences with creating a new system of global governance, especially in the world of finance. (original abstract)