Abstract

The aim of this contribution is to unravel the European Union’s position and role within a deepening and broadening global normative web. After briefly reexamining the debate over the general shift in global governance and its impact on international law, this chapter delves into assessing the impact of informal global fora and their relationship with the EU, particularly with regard to the processes of ‘informal international lawmaking’ which these bodies promote. In order to gain a deeper understanding of this kind of informal global governance, the focus is on economic and financial governance - particularly significant in the context of recent crises. The chapter addresses in particular: (i) the nature and constrains of the legal framework governing the EU’s participation in global fora; (ii) the significance of and challenges to achieving centralized action among EU Member States; (iii) the EU’s ability to influence transnational regulatory frameworks, also vis-à-vis other global players, such as the United States.