Olaf Cramme and Elena Jurado

It is difficult to assess at this juncture the consequences of the global financial crisis, both in relation to our economies, and in consideration of broader political dynamics. However, there are three phenomena in this regard. First, the crisis shows the stark reality of global interdependence in the XXI century. The idea that economic growth particularly in emerging markets - has been "decoupled" from the American economy has proved wrong. The reality is that no country has been immune from the crisis in global financial system so as inadequately regulated.

Secondly, the crisis has highlighted the frailty of the globalization process. The growing credit crunch is precipitating a dramatic decline in international trade, with significant effects on the economy of the major exporting countries, notably China, Germany and Japan. With the desire to avoid overly risky operations to emerging markets, banks today are limited to investing in their own economies. The bailout policies of European industries and North-American threatening the progress made during recent decades in international trade liberalization. It is already talking about the beginning of a process of de-globalization.

Thirdly, the neo-liberal faith in laissez-faire "as a guiding principle of the organization of markets has been severely shaken. The crisis has revealed the limitations of market liberalization. Markets by themselves can not ensure the public interest. In a similar way to the radical ideology of the late 70s, we are currently witnessing the demolition of the political foundations of neoliberalism and the end of its intellectual hegemony in the West.

Santiago (2009) hosted the sixth edition-and first in Latin America, the Progressive Leaders Summit, a meeting that began in 1999 at the initiative of Tony Blair of Great Britain (1997-2007) and Bill Clinton of the United States ( 1993-2001) and has performed in Berlin (2000), Stockholm (2002), London (2003 and 2008), Budapest (2004) and Johannesburg (2006).

The meeting organized by Networtk Policy and Equality Institute, world leaders came center: The Spanish head of government José Luis Rodríguez Zapatero, President Lula da Silva of Brazil, the U.S. Vice President John Biden, the British Prime Minister Gordon Brown , President of Argentina Cristina Fernandez, President of Uruguay Tabaré Vázquez and Norwegian Prime Minister Jens Stoltenberg. All representatives of the formal expression of political liberalism, that is linked to government socialist, social democratic, Christian Socialists, Labor and Democrats, from a perspective that values make a bet made to ensure citizens' rights in the context of a social and democratic rule of law.