This brings me back to the beginning. While I was speaking, the Rosetta spacecraft has continued to circle the dark, icy object that is comet 67P. As the comet proceeds closer to the sun, we may yet learn more of its secrets. Given the diversity of its staff and backers, the Rosetta mission is a true testament to global cooperation.
Policymakers should take inspiration from that. There are no secrets about what can engender growth. But if they are to deliver on the three Rosetta moments, they need to enhance global cooperation. They need to embrace what I have called the “new multilateralism”. This is the year when it should be put into practice.
The new multilateralism also requires institutions that are efficient, credible, and representative of a changing global economy. This is why the international community agreed to reform the IMF to increase the representation of emerging market countries. The 2010 quota and governance reforms would also help sustain the Fund’s financial firepower to meet the challenges ahead.
The IMF’s membership had called on the United States to ratify the 2010 reforms by the end of last year, which did not happen. As I have spoken much about leadership today, I cannot but express my profound disappointment in the political powers who have so far failed to grasp the benefits of the reform both for their own country and for the world at large. We have seen better from the United States over the last 70 years.
We will now be working on interim solutions to address some of the concerns of our other 187 member countries. But let me be clear: given the challenges that 2015 and the following years will bring, there is no alternative to completing the 2010 reforms – and we continue to call on Congress to approve them without delay.
I would like to end with a quote that encapsulates my call for greater leadership and cooperation in service of the global public good.
It is attributed to Pericles, the Athenian statesman and orator:
“What you leave behind is not what is engraved in stone monuments, but what is woven into the lives of others.”
There is a lot of weaving to be done this year. Thank you.