[PDF Download] G20 since the global crisis 1st edition jonathan luckhurst (auth.) full chapter pdf

Page 1


G20 Since the Global Crisis 1st Edition

Jonathan Luckhurst (Auth.)

Visit to download the full and correct content document: https://textbookfull.com/product/g20-since-the-global-crisis-1st-edition-jonathan-luckh urst-auth/

More products digital (pdf, epub, mobi) instant download maybe you interests ...

The Shifting Global Economic Architecture: Decentralizing Authority in Contemporary Global Governance 1st Edition Jonathan Luckhurst (Auth.)

https://textbookfull.com/product/the-shifting-global-economicarchitecture-decentralizing-authority-in-contemporary-globalgovernance-1st-edition-jonathan-luckhurst-auth/

Economic Policies since the Global Financial Crisis 1st Edition Philip Arestis

https://textbookfull.com/product/economic-policies-since-theglobal-financial-crisis-1st-edition-philip-arestis/

Crisis Counseling Intervention and Prevention in the Schools 3rd Edition Jonathan Sandoval

https://textbookfull.com/product/crisis-counseling-interventionand-prevention-in-the-schools-3rd-edition-jonathan-sandoval/

The Global 1980s People Power and Profit 1st Edition

Jonathan Davis

https://textbookfull.com/product/the-global-1980s-people-powerand-profit-1st-edition-jonathan-davis/

Global poverty : deprivation, distribution, and development since the Cold War 1st Edition Sumner

https://textbookfull.com/product/global-poverty-deprivationdistribution-and-development-since-the-cold-war-1st-editionsumner/

The global pain crisis : what everyone needs to know 1st Edition Foreman

https://textbookfull.com/product/the-global-pain-crisis-whateveryone-needs-to-know-1st-edition-foreman/

Bank Liquidity and the Global Financial Crisis Laura Chiaramonte

https://textbookfull.com/product/bank-liquidity-and-the-globalfinancial-crisis-laura-chiaramonte/

Social Policy in a Cold Climate: Policies and Their Consequences since the Crisis 1st Edition Ruth Lupton (Editor)

https://textbookfull.com/product/social-policy-in-a-cold-climatepolicies-and-their-consequences-since-the-crisis-1st-editionruth-lupton-editor/

Punk Crisis: The Global Punk Rock Revolution Raymond A Patton

https://textbookfull.com/product/punk-crisis-the-global-punkrock-revolution-raymond-a-patton/

G20 Since the Global c ri S i S

jonathan luckhur S t

G20 Since the Global Crisis

G20 Since the Global Crisis

Jonathan Luckhurst

University of Guadalajara Guadalajara, Jalisco, Mexico

ISBN 978-1-137-55145-0

DOI 10.1057/978-1-137-55147-4

ISBN 978-1-137-55147-4 (eBook)

Library of Congress Control Number: 2016936518

© The Editor(s) (if applicable) and The Author(s) 2016

This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed.

The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made.

Cover Image © Tetra Images/Alamy Stock Photo

Printed on acid-free paper

This Palgrave Macmillan imprint is published by Springer Nature

The registered company is Nature America Inc. New York

A CKNOWLEDGMENTS

Writing a book sometimes feels like a solitary struggle, but there are moments when friends and colleagues provide invaluable help. Several people have helped me to make this book possible. It began at a prearranged meeting with Brian O’Connor, former Political Science Editor at Palgrave Macmillan, New York. Fortunately we both were attending the International Studies Association (ISA) Annual Convention in Toronto, in March 2014. I would like to start by thanking him for his interest in my initial book proposal. I would also like to thank the anonymous reviewer of that proposal, who made very helpful suggestions that I have tried to incorporate in the text.

Another important step was changing my institution soon after the book project was accepted by Palgrave Macmillan. I am grateful to my new employers and colleagues at the Center for North American Studies and the Department of Pacific Studies at the University of Guadalajara, especially Arturo Santa Cruz and Dagoberto Amparo Tello, who made me feel very welcome. Everyone has been very patient as I often disappeared in recent months to focus deeply on writing the book. Alhasan Haidar and Sergio Casillas Vázquez, both friends and colleagues with whom I worked formerly at Tecnológico de Monterrey, have been excellent companions in Guadalajara. We spent many lunch hours debating issues of international politics, often disagreeing but always enjoyable discussions. Thanks also to David J. Sarquís of Tec de Monterrey, for his kindness over the years; a friend and colleague with whom I have had many excellent conversations. These discussions with colleagues certainly encouraged me to question and reconsider some of my own ideas. It is also important to mention two

good friends from my studies at the University of Essex, Hernán Cuevas Valenzuela of Universidad de Chile and Hartmut Lenz of Soka University. They have both been crucial for the development of my ideas. Aspects of this book owe a lot to our discussions over more than a decade. In the same sense, I thank my doctoral supervisor at Essex, David Howarth, for being an important intellectual influence.

I am very grateful to the people who helped directly with the book. Arturo Santa Cruz was very kind to volunteer to read some draft chapters. His suggestions were invaluable and I appreciate the time and effort taken to read my work. I also thank him for his advice and help in relation to my new academic position. Thank you to Berenice Calvillo Cortés, whose love and support helped me ‘survive’ the book-writing process. She helped a lot with some research tasks, making a significant difference to the quality of the work. Thanks to Steve Price-Thomas of Oxfam, someone with significant experience of the G20 and especially the Civil Society 20 (C20). He very generously read a chapter, giving very useful feedback and insights on the G20 outreach engagement process. My thanks to everyone I interviewed for the book, which provided a lot of useful material. It was very kind to give me so much of their valuable time, despite busy schedules. The conversations were useful, as well as interesting and enjoyable. Thank you to Hartmut Lenz, Thomas Legler of Universidad Iberoamericana, and Ralph Carter of Texas Christian University, for giving helpful feedback on conference papers or drafts that at least partially were integrated in the book. I have had the pleasure to meet and get to know some fellow G20 scholars in recent years, including Alan S. Alexandroff and John J. Kirton, both of the University of Toronto, Andrew F. Cooper of the University of Waterloo, and Steven Slaughter of Deakin University. My special thanks to Susan Harris Rimmer, of Griffith University, who introduced me to several of these people and whom I have enjoyed getting to know. I am also grateful to my research assistant at the University of Guadalajara, Jessica Medina Hernández, who gathered a lot of data for this project. Of course none of these people are responsible for the contents of the book.

Thank you Alexandra Dauler, Editor of Politics, Political Theory, and Public Policy at Palgrave Macmillan, New York, for your patience and efforts to make this book a success. Also I am grateful to Elaine Fan, Editorial Assistant at Palgrave Macmillan, who has been a great help. This book really is about one of the most important issues of today, which is how we respond to new circumstances in the post–global financial crisis

world. Someone commented once that I seem to be interested in the really ‘big issues’, but international politics is also about the small stuff. If the world economy is underperforming, it indicates effects of many bad decisions, not simply monolithic, invisible forces. The G20 developed to meet the challenges of these uncertain times and has been useful, although there is room for improvement…

I dedicate this book to my parents, Brian and Shirley Luckhurst.

Jonathan Luckhurst

Guadalajara, Jalisco, Mexico

September 2015

A BBREVIATIONS

3G Global Governance Group

AU African Union

ACWG Anti-Corruption Working Group (of G20)

ADB Asian Development Bank

AfDB African Development Bank

AIIB Asian Infrastructure Investment Bank

ALBA Alliance for the Peoples of Our America

APEC Asia-Pacific Economic Cooperation

ASEAN Association of Southeast Asian Nations

B20 Business 20

BCBS Basel Committee on Banking Supervision

BIS Bank for International Settlements

BRICS Brazil, Russia, India, China, South Africa

C20 Civil Society 20

CMIM Chiang Mai Initiative Multilateralization

CSO Civil Society Organization

DWG Development Working Group (of G20)

EU European Union

ECB European Central Bank

ESWG Energy Sustainability Working Group (of G20)

EWG Employment Working Group (of G20)

FSB Financial Stability Board

FSF Financial Stability Forum

FTT Financial Transaction Tax

FWG Framework [for Strong, Sustainable, Balanced Growth]

Working Group (of G20)

G2 Group of Two

G20 Group of Twenty

G5 Group of Five

G7 Group of Seven

G8 Group of Eight

GDP Gross Domestic Product

GFC Global Financial Crisis

GPFI Global Partnership for Financial Inclusion

IS Islamic State

IEO Independent Evaluation Office of the IMF

IFAWG International Financial Architecture Working Group (of G20)

IFI International Financial Institution

IILS International Institute for Labour Studies

IIWG Investment and Infrastructure Working Group (of G20)

ILO International Labour Organization

IMF International Monetary Fund

IO International Organization

L20 Labour 20

LIC Low Income Country

MAP Mutual Assessment Process

MDGs Millennium Development Goals

MIKTA Mexico, Indonesia, South Korea, Turkey, Australia

NATO North Atlantic Treaty Organization

NDB New Development Bank

NGO Non-Governmental Organization

ODI Overseas Development Institute

OECD Organisation for Economic Co-operation and Development

RCEP Regional Comprehensive Economic Partnership

SCO Shanghai Cooperation Organization

SDGs Sustainable Development Goals

T20 Think 20

TARP Troubled Asset Relief Program

TPP Trans-Pacific Partnership

TTIP Transatlantic Trade and Investment Partnership

TUAC Trade Union Advisory Committee to the OECD

UN United Nations

UNFCCC United Nations Framework Convention on Climate Change

UNSC United Nations Security Council

VaR Value at Risk

W20 Women 20

WTO World Trade Organization

Y20 Youth 20

L IST OF F IGURES

Fig. 2.1 GDP based on PPP share of world total (%)

Fig. 2.2 GDP current prices (US dollars, billions)

Fig. 2.3 GDP based on purchasing-power-parity (PPP) share of world total (%) G7 and BRICS comparison 51

Fig. 2.4 GDP current prices (US dollars, billions) G7 and BRICS comparison 52

Fig. 4.1 The Seoul development principles 113

Fig. A.1 GDP growth (Annual %) wealthy members 279

Fig. A.2 GDP growth (Annual %) developing and emerging members 280

Fig. A.3 Imports of goods and services (% of GDP)

G20 wealthy members 280

Fig. A.4 Imports of goods and services (% of GDP)

G20 developing and emerging members

Fig. A.5 Exports of goods and services (% of GDP)

G20 wealthy members

Fig. A.6 Exports of goods and services (% of GDP)

G20 developing and emerging members

Fig. A.7 Foreign direct investment, net inflows (% of GDP)

G20 wealthy members

Fig. A.8 FDI, net inflows (% of GDP) G20 developing and emerging members

Fig. A.9 Foreign direct investment, net outflows (% of GDP)

G20 wealthy members

Fig. A.10 FDI, net outflows (% of GDP) G20 developing and emerging members

281

281

282

282

283

283

284

L IST OF T ABLES

Table 4.1 G20 summit compliance: ranking (and percentage), 2008–2013 119

Table 6.1 Members of the 3G 203

Table 7.1 Increased participation of China and the USA in post-September 2008 bilateral and multilateral economic cooperation

Table 7.2 G20 Summit compliance: position (percentage) China and the USA, 2008–2013

218

222

CHAPTER 1

Introduction: G20 Since the Global Crisis

This book analyzes the influence of the Group of Twenty (G20) since the 2008 global financial crisis (GFC). It examines the effects of the GFC on global governance and international relations. Despite claims from several leading scholars that G20 cooperation declined after its crisis response of 2008–2009, the forum has become an important hub of global governance networks. Policy contestation has increased on core economic governance issues, with significant effects on the G20, global governance, and international relations. This chapter provides an overview of the book. It introduces the analytical approach, which combines insights from constructivism, liberalism, realism, and other approaches to international relations. It reviews academic literature on the G20 and GFC to help contextualize my analysis, and then it summarizes the focus of each chapter.

In the late 1990s, the Asian financial crisis damaged several developing economies, which many western officials blamed on poor governance standards, “crony capitalism,” and institutional flaws in those countries. The G20 Finance forum was created as an international response by the Canadian and US governments, with other allies, following a key meeting in 1999 between US Treasury Secretary–designate Larry Summers and Canadian Finance Minister Paul Martin. The focus of the new forum would be to share the best economic policy practices from its wealthy members with strategically significant developing-state members. Policy learning and adaptation was intended to be principally one way, based on the assumption of superior policy norms in the wealthy members. A decade later, somewhat ironically, the wealthy

© The Editor(s) (if applicable) and The Author(s) 2016 J. Luckhurst, G20 Since the Global Crisis, DOI 10.1057/978-1-137-55147-4_1

1

states suffered most from an equally dramatic financial crisis, centered on the USA and Europe. This crisis, due to its global effects, commonly became known as the “global financial crisis,” abbreviated to GFC. I adopt this usage in the book. Not all regions and countries were equally affected, but the near-global impact of the 2008 financial crisis justifies the name.

The financial crisis became international in late 2008, but began in the USA when the sub-prime mortgage market collapsed in 2007 and a liquidity crisis ensued in the US banking sector. The increasingly fragile circumstances of the US financial sector in 2007–2008 only led to an international crisis with the bankruptcy of Lehman Brothers investment bank on September 15, 2008. Stock markets crashed in many countries, and several financial institutions in Europe, Asia, and elsewhere experienced severe liquidity problems. Policymakers around the world suddenly found themselves in profoundly challenging and uncertain economic circumstances. The US-led international economy and the liberal economic beliefs upon which the international economy was founded were undermined and brought into question. The most popular models of financial risk management suddenly lost credibility, while economic growth predictions were radically lowered in countries substantially exposed to the international economy, which meant the majority.

G20 SINCE THE GLOBAL CRISIS

The G20 has been the hub of international economic governance since the first Leader summit in November 2008, due to strategic, ideational, and political effects of the GFC, and of the forum itself. The G20 has cooperated to enhance the role of multilateral governance in reducing negative effects from international financial markets. The GFC was a catalyst for the reorganization of global economic governance. Economic changes of the previous decade had already led to demands for developing states to be included more in multilateral management of the international economy. Elite policy actors realized that financial, economic, and political contributions from leading developing states could significantly improve their capacity to reduce negative effects of the GFC and the ensuing global economic recession.

Strategic and ideational effects of the GFC increased contestation of the international economic governance regime. The relative strategic shift in economic influence from the Group of Seven (G7) to leading developing states, especially Brazil, China, and India, contributed to ideational

effects of the crisis and influenced socialization processes in the G20. Awareness of economic interdependence and the growing importance of leading developing states influenced G20 leaders, from both developing and wealthy members, to seek a cooperative crisis response through the forum. The G20 became the hub of an augmented “in-group” of global governance, incorporating policy actors from leading developing states in elite consultations and decision-making fora. The increased influence of policy actors from leading developing states, often more skeptical than their American and European counterparts about economic governance norms associated with the Washington Consensus and financial liberalization, undermined pre-crisis conventional wisdom in multilateral fora and international organizations (IOs). An ideational crisis effect further reduced confidence in those policy norms, which many scholars and policymakers in both wealthy and developing states perceived to be responsible for the GFC. The G20 shifted its political focus to “re-embedding” aspects of the international economy in 2008, implicitly recognizing what Karl Polanyi (1944) argued to be the societal origins of economic relations. This occurred especially in areas of international finance, initially through ad hoc policy responses, but also, more comprehensively, through the strategy of macroprudential financial regulation to reduce societal risks from finance.

This study analyzes the G20’s role as a hub of global governance networks since the GFC. It is a “hub” in the sense of it being the center or focus of key global governance networks, the latter indicating professional networks of policy actors cooperating on areas such as global financial governance and sustainable development. It is a hub of “communities of practice” in some policy areas (Adler 2008, 198–202), implying cooperation between actors with significant mutual interests in common practices. The G20 also facilitates deliberation on issue areas with less consensus when such policy communities are weaker or absent. I argue the G20 is a loose “club,” whose members cooperate on an informal, consensual basis as a self-selected group, due to shared interests rather than general politico-normative convergence. The Leader forum has also become a “steering committee” for multilateral economic governance, having an authoritative role in guiding international economic governance, following its “crisis committee” origins of 2008–2009 in response to the GFC.

The G20 members agreed on new norms for financial governance, based on macroprudential regulation, including the Basel III Accords and enhanced cooperation through the Financial Stability Board (FSB) and

other multilateral financial institutions and fora. They also prioritized the role of the G20 and multilateral bodies in maintaining international economic stability, especially through increased financial and policy coordination. Differences persisted in the forum on causes and effects of the GFC, which influenced disagreements on the relative merits of economic austerity and fiscal stimulus strategies; on responsibility for and solutions to international economic imbalances, especially in trade and capital flows; and on concerns about the potential effects of competitive monetary policies and so-called currency wars. Issues such as these, in addition to climate change, sustainable development, and security challenges, could reduce G20 cooperation in future. This book analyzes these potential obstacles, concluding they could have negative effects on G20 cooperation, but not necessarily sufficient to render it ineffective. G20 cooperation has been achieved on several important issues despite differences between its members.

The G20 is not dominated by any single member. Several members influence different issues on its agenda in important ways, with the rotating presidency a strong diplomatic tool for swaying international policy debate on the economy and other political priorities. The Leader forum continues to play the leadership role agreed at the Pittsburgh G20 Summit of 2009. Despite political contestation over international economic governance and other key issues, the G20 has become the main hub of global governance and cooperation. This enabled it to contribute significantly to re-embedding key aspects of the international economy, often through informal policy coordination rather than Bretton Woods style comprehensive institutional redesign of the international financial architecture. This has constituted an altered international financial-governance regime, especially ideationally, despite the lack of what Peter Hall (1993, 278–297) calls “second order change,” or institutional innovation, except the upgrade to the FSB and relatively modest International Monetary Fund (IMF) reform. Strategic and ideational effects of the GFC and the G20’s role in international governance have had significant consequences despite the absence of more comprehensive institutional reform. Eric Helleiner (2010a, 633–663) argues that the current context of international economic governance indicates an “interregnum,” rather than a new regime, based on the continued contestation of policy norms. I agree that policy contestation, within and outside the G20, indicates the lack of a fully formed new international economic regime. However, it does demonstrate that the old Washington Consensus/post-Washington Consensus regime is no longer dominant. More than just an interregnum, this is a period of increased contestation and significant change in international relations and economic governance.

The G20 has become crucial for multilateral economic governance, providing “constructed focal points” (Keohane and Martin 1995, 45) for concentrating international policy coordination on key issues. The forum’s capacity as a steering committee is indicated by a raft of reforms agreed and implemented since 2008. The International Monetary Fund (IMF) reform agreed in 2010 was only eventually implemented in December 2015, due to the US Congressional opposition to ratification of the necessary legislation. This delay, combined with the western duopoly of American and European dominance of the Bretton Woods institutions, encouraged Chinese and other developing-state policymakers to seek additional means to increase their role in multilateral governance, such as the new Asian Infrastructure Investment Bank (AIIB) or the BRICS’1 New Development Bank (NDB). The potential for developing states to abandon the Bretton Woods institutions due to lack of inclusivity increases the significance of the G20, which helps sustain multilateral cooperation as a forum of equals.

ANALYTICAL APPROACH

This study combines a constructivist focus on socialization, political agency, and ideational effects of norms and beliefs, with an analysis of rationalist claims about strategic calculation and evaluation of material and strategic effects of the GFC and G20. The G20 has significant socialization effects on its members and interlocutors, due to its political, strategic, and “cognitive” authority (Broome and Seabrooke 2015); through contestation, deliberation, rhetorical action, persuasion, sometimes as a hub of policy networks or communities of practice; and because its members prioritize the forum as useful for effective policy coordination. By analyzing these aspects of the G20, the book demonstrates its importance for contemporary international relations and global governance.

The first part of the book, Chaps. 2 and 3, analyzes GFC strategic, ideational, and normative consequences for international relations and global governance. The second part, Chaps. 4, 5, and 6, focuses on the internal workings of the G20, the dynamics of its policy agenda and outreach engagement, and its capacities as a hub of global governance networks. The final part, Chaps. 7 and 8, considers the potential for continued G20 cooperation despite strategic tensions and differences between members. The analysis is based on research of documentary evidence and a small number

1 The BRICS group consists of Brazil, Russia, India, China, and South Africa.

of interviews with influential G20 policy actors and interlocutors, especially past and present G20 sherpas of some member governments, as well as participants in the G20’s civil society engagement. These interviews were conducted in 2014 and 2015 and usually lasted a considerable amount of time, sometimes two hours, which provided substantial primary evidence for the book. The research also includes an extensive study of expert and scholarly contributions on the G20 and global governance. The analysis focuses on ideational, material, and agency effects of the G20 since the GFC, as well as linkages between domestic and international politics and policy actors. It traces the diverse processes that influence the G20 by combining political–economic and strategic evidence with extensive policy research, elite interviews, qualitative discourse analysis, and evidence of political contestation and norm entrepreneurship (cf. George and Bennett 2005, 6).

The research method for this study fits Peter Katzenstein and Rudra Sil’s (2011, 29) advocacy of “analytical eclecticism” to achieve “middle-range” theoretical insights about the complex dynamics of a particular context of international relations. This intentionally inclusive approach includes a constructivist core supported by liberal, realist, English School, poststructuralist, interpretive, and rationalist analytical tools. I combine constructivism with liberal regime analysis, especially in Chap. 4, to demonstrate the extensive contestation of the post-Lehman global economic governance regime, especially within the G20. I examine similarities and differences between the current international context and the postwar Bretton Woods regime. Extensive policy analysis demonstrates there has been a partial re-embedding of the international economy since the GFC, especially due to the influence of the G20 on issues such as macroprudential financial regulation. I analyze the significance of the G20 and GFC for actors’ beliefs, conventional wisdom on economic governance, perceptions of hegemony and the relative influence of states, and in-group socialization. This is augmented by an analysis of realist and liberal perspectives on actors’ strategic calculation.

The book argues that the G20 has been influenced by strategic, material factors and instrumental and constitutive effects of political discourse. By combining the analysis of actors’ strategic calculation with a constructivist emphasis on constitutive effects of discourse and by examining both material and agency issues, this study includes a theoretically inclusive approach. It examines the significance of the G20 for international relations and global governance, a complex range of policy contexts and issue areas, rather than narrowly focusing on G20 summitry. This indicates how the forum has influenced global governance and key aspects of international and domestic politics since the GFC.

COMPETING PERSPECTIVES

Scholarly debate on the G20 role in global governance is diverse, though it has shown certain trends in recent years. The GFC is broadly considered to have been crucial for the Leader forum, not least because it was the immediate reason for its creation. Many authors agree the G20 was central to the multilateral response, and also that the forum was significant for modifying the global governance architecture (Cooper and Thakur 2013; Drezner 2014; Kirton 2013). Other scholars are more skeptical about the effects of the G20 and GFC, arguing there was a decline in G20 cooperation when the crisis receded in 2010, with a return to normalcy in international relations (Blyth 2013b; Bremmer 2012; Helleiner 2014). This book is closer to the former position on the G20, further asserting the GFC has had significant effects on global governance and international relations.

Andrew Cooper and Ramesh Thakur (2013), Daniel Drezner (2014), and John Kirton (2013) have differing perspectives on the G20 and global governance despite agreeing that they had important effects. Cooper and Thakur (2013, 134) construct a nuanced analysis of the G20 since the GFC, pragmatically asserting that it combines “the best crossover point between legitimacy… efficiency… and effectiveness.” They identify some imperfections in addition to strengths, arguing that the G20 represents the best option in an imperfect world, rather than the ultimate solution to the challenges of global governance. They also (2013, 81) claim that the G20 “privileges pragmatism” over “like-mindedness,” in the sense of a result-oriented rather than always normatively congruent forum, what I argue to be a looser “club” logic in comparison with the G7.2 Cooper and Thakur (2013, 83–84) believe that G20 cooperation was effective during the GFC. They have been less positive about its impact since 2010, though they endorse its potential to continue as “the hub of a networked global governance” (Cooper and Thakur 2013, 134). Drezner (2014) writes more broadly about how global governance functioned in response to the GFC, noting that although “macroeconomic policy coordination eroded after the [2010] G20 Toronto summit,” an important multilateral progress was noted on other issues, including banking regulation, maintaining open trade, and attempts at global governance reform (Drezner 2014, 17). The analysis in the present study indicates such international cooperation persisted, with the G20 crucial to it. The G20 has become a

2 Presently the Group of Eight (G8) forum is suspended, due to members’ differences over the Ukraine conflict.

hub of global governance networks and communities of practice in some of these policy contexts, especially macroprudential financial regulation and, to a lesser extent, on sustainable development. One advantage of this book is that it has more evidence to analyze than earlier contributions, some of which reinforces or undermines claims from those studies.

Kirton (2013, 382–383) is often very positive about the G20, recognizing the uncertainty of the future but asserting his faith in the group’s capacity to navigate through the challenges that might arise. He (2013, 5–12) presents an interesting typology of different schools of thought on the G20, which serves as a useful introduction to the diversity of perspectives. His differentiation between G20 scholars indicates four main categories. The first school argues that the G20 is “redundant” because other global governance bodies are more capable or legitimate. Kirton discusses a second category the “rejection” school that rejects the G20 for various reasons, including perceived lack of legitimacy, though it accepts its significance for global governance. Kirton calls the third group the “reinforcement” school, which considers the G20 a useful addition that complements and reinforces the global governance role of the G7/8 and IOs. His fourth category is the “replacement” school, a selection of scholars who argue that the G20 is replacing the alternatives, especially the G7/8, and becoming the pre-eminent forum for global governance. This typology does not exhaust the diversity of perspectives on the G20 role in global governance and international relations. Not every scholar could be neatly categorized within the schools Kirton identified. He (2013, 9–10) situates himself and Cooper in the “reinforcement” school, into which category the present study partially fits, though the analysis goes beyond the limits of the reinforcement argument. This book makes further claims, for example, about the significance of ideational effects of the GFC, the consequences of normative contestation or convergence, and the prospects for G20 cooperation or conflict. Kirton (2013, 298, 324) emphasizes the benefits and achievements of the G20 in global governance and prospects for normative convergence between its members (2013, 388), highlighting G20 summitry successes. I situate myself closer to Cooper and Thakur (2013) and Drezner (2014) and Kirton (2013) by being broadly positive about the G20 and aspects of global governance since the GFC, but accepting that significant economic, security, normative, and political challenges make the forum’s future uncertain.

Drezner (2014, 11–14) notes the growing pessimism about global governance since the GFC, summarizing critics as believing “[g]lobal

economic governance has failed to repair the damage since 2008, and its structures are too sclerotic to repair themselves” (2014, 14). The skeptics seem to have been in the ascendency since 2010, when G20 coordination during the GFC, which was referred to as its “heroic phase” by the UK Prime Minister David Cameron (Rowley 2010), appeared to decline. Mark Blyth’s (2013b, 208) skepticism about the capacity of the G20 to sustain a broad political change in global governance is due to his belief that the Toronto G20 Summit marked the end of the GFC Keynesian revival. In his opinion, the forum subsequently returned to a “neoclassical paradigm… reinforced by a classical austerity-politics backstop.” Blyth’s research on the history of austerity and politics of economic ideas, especially during crises, leads him to be cautious about prospects for ideational transformation or paradigm shifts in global and domestic governance. The evidence in the present study indicates such caution is valid, to the extent that there has been no comprehensive shift. I disagree with Blyth by arguing that pre-GFC conventional wisdom on economic governance was undermined, leaving a legacy of heightened contestation of economic governance norms and an ideational shift from micro- to macroprudential financial regulation. Aspects of Eric Helleiner’s analysis are similar to Blyth’s, especially his argument that not much has changed after the GFC. Helleiner claims, like Blyth, that the G20 and global governance reverted to the status quo ante once the crisis passed. He (Helleiner 2014, 26) further asserts that even the G20’s role during the GFC has been “overstated,” arguing that national policymakers, central bankers, and, in particular, the US Federal Reserve were more important to the international response. The G20 is often praised for its GFC role, even by those who perceive a subsequent loss of momentum (Bremmer 2012, 4; Cooper and Thakur 2013, 97, 103; Drezner 2014, 17, 47–48), and therefore this accusation is especially damning. It is central to Helleiner’s assertions of G20 inaction and a lack of global governance reform. My argument is that significant ideational shifts occurred during the GFC, especially in the G20, while subsequent G20 cooperation has been crucial to global governance. Aside from key policy effects, the forum has integrated the leading developing states more in global governance.

Ian Bremmer’s (2012, 2) popular thesis that we now live in a “G-Zero world” leads him to assert that the G20 “is not a new global order”; instead, contemporary international relations are characterized by the logic of “every nation for itself,” implying an absence of order. He further claims (2012, 4) that despite a period of cooperation during the GFC,

“G20 summits have since produced virtually nothing of substance.” This latter point coincides with that of Blyth and Helleiner on the general lack of G20 cooperation leading to substantive change in global governance. Such sweeping criticism ignores the complexity and diversity of G20 cooperation, which certainly has brought mixed results; however, the present study demonstrates important achievements at G20 summits, both during and since the GFC. Detailed analysis of G20 cooperation in diverse policy contexts undermines the general claim that it has been insignificant for global governance. Its importance for international relations goes beyond the calculation of short- or even medium-term achievements. The G20 is especially important for incorporating leading developing states in global governance, as well as extending its engagement beyond them to other interlocutors and stakeholders, implicitly enhancing the legitimacy of contemporary global governance by making it more inclusive.

Recent scholarly debate on the G20 has been closely tied to the analysis of the GFC. The crisis was especially significant because it weakened the popular, political, and economists’ support for conventional wisdom in important economic policy contexts (see Farrell and Quiggin 2012; Luckhurst 2012; Widmaier et al. 2007). This was evidenced by the socalled Keynesian revival/resurgence in 2008–2009 (Luckhurst 2012, 747–748), even though it did not permanently displace other policy discourses and constitute a dominant Keynesian conventional wisdom— what would be considered, in Kuhnian terms, a paradigm shift (cf. Baker 2013, 112; Blyth 2002); this, however, indicated people were questioning habitual beliefs and practices (Hopf 2010). The GFC reduced confidence in existing policy norms, especially in areas of financial regulation and development issues, also weakening pre-GFC norms of capital account liberalization (Gallagher 2011; Guha 2009; IMF 2009). Whether or not such reassessment was empirically grounded, destabilization of existing legitimizing discourses, principles, and political norms had significant consequences, especially in expediting the international adjustment to G20-based multilateralism, in addition to its policy effects.

Not everything about international economic governance has changed, but the G20-led cooperation since 2008 has brought crucial material, agency, ideational, normative, and institutional differences in international relations. Hedley Bull (1977, 54) argues that institutions help to sustain norms in “international society.” The G20 has played this normative role since 2008, as indicated by the announcement at the G20 Pittsburgh Summit of 2009 that its members would

subsequently use it as their primary forum for multilateral economic coordination (G20 2009b, 3). Thus, the G20 became more significant than the G7/8 and has increasingly acted as the key defender and arbiter of international norms since 2008. This situates the forum at the center of the post-GFC international economic governance regime as a multilateral hub for global governance networks. Ruggie (1982, 384) notes that such modifications in international regimes are predicated on a shift either in international power–political relations or in international norms. G20 authority and the post-GFC regime have been influenced by important changes in the ideational, normative, and strategic underpinnings of international “political authority,” implying “political rights and obligations that are regarded as legitimate” (Ruggie 1982, 380). The GFC heightened international normative contestation, while the augmented G20 reflects the strategic economic and political shift in favor of leading developing states that started before 2008.

Despite his “status quo hypothesis” that global governance has not changed much since the GFC, Helleiner (2014, 24) accepts that “the 2008 crisis may have a more transformative impact with the greater passage of time,” noting that the 1929 crash was followed by substantial change in international financial governance within 5 years. This is a rather tepid acceptance of the possibility of further consequences from the GFC. Drezner (2014, 1) claims that the international response to the financial crisis has been successful, and that after 2008 “the [multilateral economic] system worked.” His conclusions are very different from those presented by Helleiner (2014) and Jeffrey Frieden, Michael Pettis, Dani Rodrik, and Ernesto Zedillo (2012), the latter concluding there has been a failure of leadership and cooperation on most important challenges for multilateral economic governance. Cooper and Thakur (2013) and Kirton (2013) also contest such negative assessments, emphasizing that the G20 Leader forum has become an effective “hub” of multilateral governance and “steering committee” for the international economy. Drezner (2014, 14) argues that in terms of “economic outcomes, policy outputs, or institutional operations, it is clear that global governance structures either reinforced or improved upon the pre-crisis status quo.” He claims (2014, 15) many commentators focus too much on its limitations, ignoring important global governance achievements. This includes the fact that a deep and prolonged international economic depression similar to that in the 1930s was averted, which, Drezner believes, indicates the success of multilateral cooperation.

Another random document with no related content on Scribd:

with the tramp of feet. Turnus saw them coming towards him from their battlements, the Ausonians saw, and a cold shudder ran through their vitals: first before all the 15 Latians Juturna heard and knew the sound and shrank back in terror. As a storm-cloud bursting through the sky sweeps down to earth along the main: hapless husbandmen know it ere it comes, and shudder at heart; yes, it will bring havoc to their trees, devastation to their 20 crops, will lay all low far and wide; the winds fly before it and waft the sound to the shore: with as strong a rush the Rhœteian chief sweeps his army full on the foe; they close in firm masses and form severally at his side. Thymbræus’ sword cuts down mighty Osiris, Mnestheus slays 25 Archetius, Achates Epulo, and Gyas Ufens; falls too the augur Tolumnius, the first to fling his javelin at the enemy. The din mounts to the sky, and the Rutulians routed in turn fly through the plains in a whirlwind of dust. The hero himself neither stoops to slaughter the 30 flying nor encounter such as would fain meet him foot to foot, weapon in hand: Turnus alone he tracks winding through the thick darkness, him alone he challenges to combat. The terror struck Juturna’s manly mind: she plucks from his seat Metiscus, Turnus’ charioteer, as he 35 drives the horses, and leaves him fallen at distance behind the car: herself takes his place and handles the flowing rein, assuming all that Metiscus had, voice and person and armour. Like a black swallow that flies through the house of some wealthy man and traverses the lofty hail, in quest of scraps of food for her twittering nestlings; now she is heard in the empty cloisters, now about the watertanks; so drives Juturna through the 5 thick of the foe, and flies on rapid wheel from spot to spot, now here, now there she gives a glimpse of her victorious brother, yet never lets him stop and fight, but whirls far away in the distance. Æneas for his part winds through sinuous paths in hope to meet him, tracks 10 his steps, and shouts to him aloud across the weltering

ranks. Oft as he spies out the foe and tries by running to match the horses’ winged speed, each time Juturna wheels the car aside. What can he do? he tosses in aimless ebb and flow, thoughts distracting his mind this 15 way and that:—when lo! Messapus, with sudden movement, happening to carry two limber spear-shafts tipped with steel, levels one at him and flings it true to its mark. Æneas stopped and gathered his arms about him, sinking on his knee; yet the fierce spear took the top of the 20 helmet and struck the crest from the cone. Then at last his wrath mounts high; and under the duresse of treachery, as he sees the steeds and chariot whirling away from him, after many an appeal to Jove and the altars of the violated league, he falls on the ranks before him, and fanned 25 to dreadful vengeance by the War-god’s breath, lets loose a carnage cruel and unsparing, and flings the reins on the neck of his passion.

And now what god will tell me all those horrors and relate for me in verse the several scenes of slaughter, the 30 deaths of the leaders whom Turnus here, the Trojan hero there, is chasing over the plain? Was it thy will, great Jove, that nations destined in time to come to everlasting amity should first clash in such dread turmoil? Æneas confronted by Rutulian Sucro[o] (that combat first brought 35 the Trojan onset to a stand) after brief delay catches him on the side and drives his stubborn sword death’s nearest way through the ribs that fence the bosom. Turnus in foot-encounter slays Amycus, whose horse had thrown him, and his brother Diores, striking one with the spear ere he came up, the other with the swordblade, lops the heads of both, hangs them from his car, and carries them dripping with blood. That sends down Talos to death 5 and Tanais and brave Cethegus, those at one onslaught, and hapless Onytes, of the house of Echion, brought forth by Peridia: that kills the brethren who came from Apollo’s land of Lycia, and young Menœtes the Arcadian,

who shrunk from war in vain; he plied his craft and lived 10 in poverty by the fishy waters of Lerna, a stranger to the halls of the great; and his father tilled land for hire. Like two fires launched from different quarters on a dry forest with bushes of crackling bay, or as when two foaming rivers pouring from lofty heights crash along and run 15 towards the ocean, each ploughing his own wild channel: with no less fury rush through the fight Æneas and Turnus both: now, now the wrath is boiling within them: their unconquered bosoms swell to bursting: they throw their whole force on the wounds they deal. This with 20 the whirl and the blow of a mighty rock dashes Murranus headlong from his car to the ground, Murranus who had ever on his tongue the ancient names of sires and grandsires and a lineage stretching through the series of Latium’s kings: the wheels throw forward the fallen man under the 25 reins and yoke, and he is crushed by the quick hoof-beat of the steeds that mind not their lord. That meets Hyllus as he rushed on in vehement fury, and hurls a javelin at his gold-bound brows: the spear pierced the helmet and stood fixed in the brain. Nor did your 30 prowess, Cretheus, bravest of Greeks, deliver you from Turnus, nor did the gods Cupencus worshipped shield him from the onset of Æneas: his bosom met the steel, and the check of the brazen buckler stood the wretch in small stead. You, too, great Æolus, the Laurentian 35 plains looked on in death, spreading your frame abroad over their surface: fallen are you, whom the Argive bands could never overthrow, nor Achilles the destroyer of Priam’s realm: here was your fatal goal: a princely home under Ida’s shade: at Lyrnesus a princely hope, in Laurentian soil a sepulchre. The two armies are in hot conflict: all the Latians, all the sons of Dardanus, Mnestheus, 5 and keen Serestus, and Messapus tamer of the steed, and brave Asilas, the Tuscan band, and Evander’s Arcad cavalry, each man for himself straining every nerve: no stint, no stay; they strive with giant tension.

And now Æneas had a thought inspired by his beauteous mother, to march to the walls, throw his force 10 rapidly on the town, and stun the Latians with a sudden blow. Tracking Turnus through the ranks he swept his eyes round and round, and beholds the city enjoying respite from all that furious war, and lying in unchallenged repose. At once his mind is fired with the vision of a 15 grander battle: Mnestheus he summons and Sergestus and brave Serestus, the first in command, and mounts an eminence round which the rest of the Teucrian army gathers in close ranks, not laying shield or dart aside. Standing on the tall mound, he thus bespeaks them: 20 “Let nothing stay my orders; the hand of Jove is here; nor let any move slower because the enterprise is sudden. The town, the cause of the war, the royal home of the Latian king, unless they submit the yoke and confess themselves vanquished, I will overthrow this day, and lay 25 its smoking turrets level with the ground. What? am I to wait till Turnus choose to bide the combat, and once conquered, meet me a second time? This, my men, is the well-spring, this the head and front of the monstrous war. Bring torches with speed, and reclaim the treaty 30 fire in hand.” He said, and all with emulous spirit of union close their ranks and stream to the walls in compact mass. Scaling ladders and brands are produced suddenly and in a moment. Some run to the several gates and slay those stationed there: some hurl the steel 35 and overshadow the sky with javelins. Æneas himself among the foremost lifts up his hand under the city wall, loudly upbraids the king, and calls the gods to witness that he is once more forced into battle, the Italians twice his foes, the second treaty broken like the first. Strife arises among the wildered citizens: some are for throwing open the town and unbarring the gates to the Dardans: nay, they even drag the monarch to the ramparts: others 5 draw the sword and prepare to guard the walls: as when a countryman has tracked out bees concealed in a cavernous

rock and filled their hiding-place with pungent smoke, they in alarm for the common wealth flit about their waxen realm and stir themselves to wrath by vehement 10 buzzing: the murky smell winds from chamber to chamber: a dull blind noise fills the cavern: vapours ascend into the void of air.

Yet another stroke fell on Latium’s wearied sons, shaking with its agony the city to her foundations. When 15 the queen from her palace saw the enemy draw near, the walls assailed, flames flying roofward, the Rutulian army, the soldiers of Turnus nowhere in sight, she deemed, poor wretch, her warrior slain in the combat, and maddened with the access of grief, cries aloud that she alone is the 20 guilty cause, the fountainhead of all this evil; and flinging out wild words in the fury of her frenzied anguish, rends with desperate hand her purple raiment, and fastens from a lofty beam the noose of hideous death. Soon as Latium’s wretched dames knew the blow that had fallen, 25 her daughter Lavinia is first to rend yellow hair and roseate cheek, and the rest about her ran as wildly: the palace re-echoes their wail. The miserable story spreads through the town: every heart sinks: there goes the old king with garments rent, all confounded by his consort’s 30 death and his city’s ruin: he soils his hoary locks with showers of unseemly dust, and oft and oft upbraids himself that he embraced not sooner Æneas the Dardan nor took him for son-in-law of his own free will.

Turnus, meantime, is plying the war far away on the 35 plain, following here and there a straggler with abated zeal, himself and his steeds alike less buoyant. The air wafted to him the confused din, inspiring unknown terror, and on his quickened ears smote the sound of the city’s turmoil and the noise not of joy. “Alas! what is this mighty agony that shakes the walls? what these loud shouts pouring from this quarter and that?” So he cries,

and drawing his bridle halts bewildered. His sister, just 5 as she stood in guise of Metiscus the driver, guiding car, horse, and reins, thus meets his question: “Proceed we still, Turnus, to chase the Trojans, where victory’s dawn shows us the way: others there are whose hands can guard the city: Æneas bears down on the Italians and 10 stirs up the battle: let us send havoc as cruel among his Teucrians: so shall your slain be as many and your martial fame as high.” Turnus answered: “Sister, I both knew you long since, when at first you artfully disturbed the truce and flung yourself into our quarrel, and now 15 you vainly hide the goddess from my eyes. But tell me by whose will you are sent from Olympus to cope with toils like this? Is it that you may look on the cruel end of your hapless brother? For what can I do? what chance is there left to give me hope of safety? With my 20 own eyes I saw Murranus die, his giant frame laid low by a giant wound: he called me by name, he, than whom I had no dearer friend. Dead, too, is ill-starred Ufens, all because he would not see me disgraced: his body and his arms are the Teucrians’ prize. Am I to let the nation’s 25 homes be razed to the ground, the one drop that was wanting to the cup, and not rather with my own right hand give Drances’ words the lie? Shall I turn my back? shall this land see Turnus flying? is death after all so bitter? Be gracious to me, gentle powers of the grave, 30 since the gods above are against me! Yes, I will come down to you a stainless spirit, guiltless of that base charge, worthy in all my acts of my great forefathers.”

Scarce had he spoken, when lo! there flies through the midst of the foe, on a foaming steed, Saces, with an arrow 35 full in his face: up he spurs, imploring Turnus by name: “Turnus, our last hope is in you: have compassion on your army. Æneas thunders with sword and spear, and threatens that he will level in dust and give to destruction the Italians’ topmost battlements: even now brands

are flying to the roofs. Every Latian face, every eye turns to you: the king himself mutters in doubt whom to call his son-in-law, to whose alliance to incline. Nay, 5 more, your fastest friend the queen is dead by her own hand, scared and driven out of life. Only Messapus and keen Atinas are at the gates to uphold our forces. About them are closed ranks, and an iron harvest of naked blades: you are rolling your car over a field from which 10 war has ebbed.” Turnus stood still with silent dull regard, wildered by the thoughts that crowd on his mind: deep shame, grief and madness, frenzy-goaded passion and conscious wrath all surging at once. Soon as the shadows parted and light came back to his intelligence, 15 he darted his blazing eyes cityward with restless vehemence, and looked back from his car to the wide-stretching town. Lo! there was a cone of fire spreading from story to story and flaring to heaven: the flame was devouring the turret which he had built himself of planks welded 20 together, put wheels beneath it, and furnished it with lofty bridges. “Fate is too strong for me, sister, too strong: hold me back no longer: we needs must follow where Heaven and cruel Fortune are calling us. Yes, I will meet Æneas: I will endure the full bitterness of 25 death: no more, my love, shall you see me disgraced: suffer me first to have my hour of madness.” He said, and in a moment leapt to the ground, rushes on through foes, through javelins, leaves his sister to her sorrow, and dashes at full speed through the intervening ranks. Even 30 as from a mountain’s top down comes a rock headlong, torn off by the wind, or washed down by vehement rain, or loosened by the lapse of creeping years; down the steep it crashes with giant impulse, that reckless stone, bounding over the ground and rolling along with it trees, herds, 35 and men: so, dashing the ranks apart, rushes Turnus to the city walls, where the earth is wet with plashy blood, and the gale hurtles with spears: he beckons with his hand, and cries with a mighty voice: “Have done, ye

Rutulians! ye Latians, hold back your darts! whatever Fortune brings she brings to me: ’tis juster far that I in your stead should singly expiate the treaty’s breach and try the issue of the steel.” All at the word part from the 5 midst, and leave him a clear space.

But father Æneas, hearing Turnus’ name, quits his hold on the walls and the battlements that crown them, flings delay to the winds and breaks off the work of war, steps high in triumph, and makes his arms peal dread 10 thunder: vast as Athos, vast as Eryx, vast as father Apennine himself, when he roars with his quivering holms[286] and lifts his snowy crest exultingly to the sky. All turn their eyes with eager contention. Rutulians, Trojans, and Italians, those alike who were manning the towers and 15 those whose battering-rams were assailing the foundations. All unbrace their armour. Latinus himself stands amazed to see two men so mighty, born in climes so distant each from each, thus met together to try the steel’s issue. At once, when a space is cleared on the plain, first hurling 20 their spears, they advance with swift onset, and dash into the combat with shield and ringing harness. Earth groans beneath them; their swords hail blow on blow: chance and valour mingle pell-mell. As when on mighty Sila or Taburnus’ summit two bulls, lowering their brows for 25 combat, engage fiercely: the herdsmen retreat in dread: the cattle all stand dumb with terror, the heifers wait in suspense who is to be the monarch of the woodland, whom the herds are to follow henceforth: they each in turn give furious blows, push and lodge their horns, and 30 bathe neck and shoulders with streams of blood: the sound makes the forest bellow again: with no less fury Æneas the Trojan, and the Daunian chief clash shield on shield: the enormous din fills the firmament. Jupiter himself holds aloft his scales poised and level, and lays 35 therein the destinies of the two, to see whom the struggle dooms, and whose the weight that death bears down.

Forth darts Turnus, deeming it safe, rises with his whole frame on the uplifted sword, and strikes, Trojans and eager Latians shout aloud: both armies gaze expectant. But the faithless sword snaps in twain and fails its fiery lord midway in the stroke, unless flight should come to his aid. Off he flies swifter than the wind, seeing an unknown 5 hilt in his defenceless hand. Men say that in his headlong haste, when first he was mounting the car harnessed for battle, he left behind his father’s falchion and snatched up the steel of Metiscus, his charioteer: so long as the Teucrians fled straggling before him, the weapon 10 did good service; soon as it came to the divine Vulcanian armour, the mortal blade, like brittle ice, flew asunder at the stroke: the fragments sparkle on the yellow sand. So now in his distraction Turnus flies here and there over the plain, weaving vague circles in this place and in 15 that: for the Trojans have closed in circle about him, and here is a spreading marsh, there lofty ramparts to bar the way.

Nor is Æneas wanting, though at times the arrow wound slackens his knees and robs them of their power 20 to run: no, he follows on, and presses upon the flier foot for foot: as when a hound has got a stag pent in by a river, or hedged about by the terror of crimson plumage, and chases him running and barking: the stag, frighted by the snare and the steep bank, doubles a thousand times: 25 the keen Umbrian clings open-mouthed to his skirts, all but seizes him, and as though in act to seize, snaps his teeth, and is baffled to find nothing in their gripe. Then, if ever, uprises a shout, echoing along bank and marsh, and heaven rings again with the noise. Turnus, even as 30 he flies, calls fiercely on the Rutulians, addressing by name, and clamors for his well-known sword. Æneas, for his part, threatens death and instant destruction, should any come near, and terrifies his trembling foes, swearing that he will raze their city to the ground, and 35

presses on in spite of his wound. Five times they circle round, five times they retrace the circle: for no trivial prize is at stake, no guerdon of a game: the contest is for Turnus’ life, for his very heart’s blood. It chanced that there had stood there a wild olive with its bitter leaves, sacred to Faunus, a tree in old days reverenced by seamen, where when saved from ocean they used to fasten their offerings to the Laurentian god and hang up their 5 votive garments: but the unrespecting Trojans had lately lopped the hallowed trunk, that the lists might be clear for combat. There was lodged Æneas’ spear: thither its force had carried it, and was now holding it fast in the unyielding root. The Dardan chief bent over it, fain to 10 wrench forth the steel that his weapon may catch whom his foot cannot overtake. Then cried Turnus in the moment of frenzied agony: “Have mercy, I conjure thee, good Faunus, and thou, most gracious earth, hold fast the steel if I have ever reverenced your sanctities, which 15 Æneas’ crew for their part have caused battle to desecrate.” He said, nor were his vows unanswered by heavenly aid. Hard as he struggled, long as he lingered over the stubborn stock, by no force could Æneas make the wood unclose its fangs. While he strains with keen insistence, the 20 Daunian goddess, resuming the guise of charioteer Metiscus, runs forward and restores to her brother his sword. Then Venus, resenting the freedom taken by the presumptuous Nymph, came nigh, and plucks the weapon from the depth of the root. And now towering high, 25 with restored weapons and recruited force, this in strong reliance on his sword, that fiercely waving his spear tall as he, the two stand front to front in the breath-draining conflict of war.

Meanwhile the king of almighty Olympus accosts Juno, 30 as from a golden cloud she gazes on the battle: “Where is this to end, fair spouse? what last stroke have you in store? you know yourself, by your own confession, that

Æneas has his place assured in heaven among Italia’s native gods, that destiny is making him a ladder to the 35 stars. What plan you now? what hope keeps you seated on those chilly clouds? was it right that mortal wound should harm a god, or that Turnus—for what power could Juturna have apart from you?—should receive back his lost sword and the vanquished should feel new forces? At length have done, and let my prayers bow your will. Let this mighty sorrow cease to devour you in silence: let me hear sounds of sullen disquiet less often 5 from your lovely lips. The barrier has been reached. To toss the Trojans over land and sea, to kindle an unhallowed war, to plunge a home in mourning, to blend a dirge with the bridal song, this it has been yours to do: all further action I forbid.” So spake Jupiter: and so in 10 return Saturn’s daughter with downcast look: “Even because I knew, great Jove, that such was your pleasure, have I withdrawn against my will from Turnus and from earth: else you would not see me now in the solitude of my airy throne, exposed to all that comes, meet or unmeet: 15 armed with firebrands, I should stand in the very line of battle, and force the Teucrians into the hands of their foes. As for Juturna, I counselled her, I own, to succour her wretched brother, and warranted an unusual venture where life was at stake: but nought was said of 20 aiming the shaft or bending the bow: I swear by the inexpiable fountain-head of Styx, the one sanction that binds us powers above. And now I yield indeed, and quit this odious struggle. Yet there is a boon I would ask, a boon which destiny forefends not. I ask it for 25 the sake of Latium, for the dignity of your own people: when at last peace shall be ratified with a happy bridal, for happy let it be: when bonds of treaty shall be knit at last, let it not be thy will that the native Latians should change their ancient name, become Trojans or 30 take the Teucrian style: let not them alter their language or their garb. Let there be Latium still: let there be

centuries of Alban kings: let there be a Roman stock, strong with the strength of Italian manhood: but let Troy be fallen as she is, name and nation alike.” The 35 Father of men and nature answered with a smile: “Aye, you are Jove’s own sister, the other branch of Saturn’s line; such billows of passion surge in your bosom! but come,—let this ineffectual frenzy give way: I grant your wish, and submit myself in willing obedience. The Ausonians shall keep their native tongue, their native customs: the name shall remain as it is: the Teucrians shall merge in the nation they join—that and no more: 5 their rites and worship shall be my gift: all shall be Latians and speak the Latian tongue. The race that shall arise from this admixture of Ausonian blood shall transcend in piety earth and heaven itself, nor shall any nation pay you such honours as they.” Juno nodded assent, and 10 turned her sullenness to pleasure; meanwhile she departs from the sky, and quits the cloud where she sat.

This done, the sire meditates a further resolve, and prepares to part Juturna from her brother’s side. There are two fiends known as the Furies, whom with Tartarean 25 Megæra dismal Night brought forth at one and the same birth, wreathing them alike with coiling serpents, and equipping them with wings that fan the air. They are seen beside Jove’s throne, at the threshold of his angry sovereignty, goading frail mortality with stings of terror, 20 oft as the monarch of the gods girds himself to send forth disease and frightful death, or appals guilty towns with war. One of these Jove sped with haste from heaven’s summit, and bade her confront Juturna in token of his will. Forth she flies, borne earthward on the blast of a 25 whirlwind. Swift as the arrow from the string cleaves the cloud, sent forth by Parthian—Parthian or Cydonian—tipped with fell poison’s gall, the dealer of a wound incurable, and skims the flying vapours hurtling and unforeseen, so went the Daughter of Night and made her 30

way to earth. Soon as she sees the forces of Troy and the army of Turnus, she huddles herself suddenly into the shape of a puny bird, which oft on tombstone or lonely roof sitting by night screams restlessly through the gloom; in this disguise the fiend again and again flies flapping in 35 Turnus’ face, and beats with her wings on his shield. A strange chilly terror unknits his frame, his hair stands shudderingly erect, and his utterance cleaves to his jaws. But when Juturna knew from far the rustling of those Fury pinions, she rends, hapless maid, her dishevelled tresses, marring, in all a sister’s agony, her face with her nails, her breast with her clenched hands: “What now, my Turnus, can your sister avail? what more remains for 5 an obdurate wretch like me? by what expedient can I lengthen your span? can I face a portent like this? At last, at last I quit the field. Cease to appal my fluttering soul, ye birds of ill omen: I know the flapping of your wings and its deathful noise; nor fail I to read great 10 Jove’s tyrannic will. Is this his recompense for lost virginity? why gave he me life to last for ever? why was the law of death annulled? else might I end this moment the tale of my sorrows, and travel to the shades hand in hand with my poor brother. Can immortality, can aught 15 that I have to boast give me joy without him? Oh, that earth would but yawn deep enough, and send me down, goddess though I be, to the powers of the grave!” So saying, she shrouded her head in her azure robe, with many a groan, and vanished beneath the river of her deity. 20

Æneas presses on, front to front, shaking his massy, tree-like spear, and thus speaks in the fierceness of his spirit: “What is to be the next delay? why does Turnus still hang back? ours is no contest of speed, but of stern soldiership, hand to hand. Take all disguises you can; 25 muster all your powers of courage or of skill: mount on wing, if you list, to the stars aloft, or hide in the cavernous depth of earth.” Shaking his head, he replied: “I quail

not at your fiery words, insulting foe: it is Heaven that makes me quail, and Jove my enemy.” No more he 30 spoke: but, sweeping his eyes round, espies a huge stone, a stone ancient and huge, which chanced to be lying on the plain, set as some field’s boundary, to forefend disputes of ownership: scarce could twelve picked men lift it on their shoulders, such puny frames as earth produces 35 now-a-days: he caught it up with hurried grasp and flung it at his foe, rising as he threw, and running rapidly, as hero might. And yet all the while he knows not that he is running or moving, lifting up or stirring the enormous stone: his knees totter under him, and his blood chills and freezes: and so the mass from the warrior’s hand, whirled through the empty void, passed not through all the space between nor carried home the blow. Even 5 as in dreams, at night, when heavy slumber has weighed down the eyes, we seem vainly wishing to make eager progress forward and midway in the effort fail helplessly; our tongue has no power, our wonted strength stands not our frames in stead, nor do words or utterance come at 10 our call: so it is with Turnus: whatever means his valour tries, the fell fiend bars them of their issue. And now confused images whirl through his brain: he looks to his Rutulians and to the city, and falters with dread, and quails at the threatening spear: how to escape he knows 15 not, nor how to front the foe, nor sees he anywhere his car or the sister who drives it.

Full in that shrinking face Æneas shakes his fatal weapon, taking aim with his eye, and with an effort of his whole frame hurls it forth. Never stone flung from 20 engine of siege roars so loud, never peal so rending follows the thunderbolt. On flies the spear like dark whirlwind with fell destruction on its wing, pierces the edge of the corslet, and the outermost circle of the seven-fold shield, and with a rush cleaves through the thigh. Down with 25 his knee doubled under him comes Turnus to earth, all

his length prostrated by the blow. Up start the Rutulians, groaning as one man: the whole mountain round rebellows, and the depths of the forest send back the sound far and wide. He in lowly suppliance lifts up eye 30 and entreating hand: “It is my due,” he cries, “and I ask not to be spared it: take what fortune gives you. Yet, if you can feel for a parent’s misery—your father, Anchises was once in like plight—have mercy on Daunus’ hoary hairs, and let me, or if you choose my breathless 35 body, be restored to my kin. You are conqueror: the Ausonians have seen my conquered hands outstretched: the royal bride is yours: let hatred be pressed no further.”

Æneas stood still, a fiery warrior, his eyes rolling, and checked his hand: and those suppliant words were working more and more on his faltering purpose, when, alas! the ill-starred belt was seen high on the shoulder, and light flashed from the well-known studs—the belt of 5 young Pallas, whom Turnus conquered and struck down to earth, and bore on his breast the badge of triumphant enmity. Soon as his eyes caught the spoil and drank in the recollection of that cruel grief, kindled into madness and terrible in his wrath: “What, with my friend’s 10 trophies upon you, would you escape my hand? It is Pallas, Pallas, who with this blow makes you his victim, and gluts his vengeance with your accursed blood.”

With these words, fierce as flame, he plunged the steel into the breast that lay before him. That other’s frame grows 15 chill and motionless, and the soul,[287] resenting its lot, flies groaningly to the shades.

FOOTNOTES

[A] “Like footsteps upon wool.” Tennyson, Œnone.

[B] Mr Conington has missed a line, which may be rendered thus: “who knowest the divine will of Apollo his tripods and his laurels ”—[E S S ]

[C] Another line omitted in the translation: “huge as Greek shield or sun-god’s torch.” [E. S. S.]

[D] A caret in the Ms. notes the omission of Urbis opus: “A city in itself.” [E. S. S.]

[E] Three lines omitted in the Ms.: “Then on Mount Eryx, towering to the stars, is reared a temple to Idalian Venus, and for Anchises’ tomb a priest appointed, with dedication of broad-acred grove ” [E S S ]

[F] For the omitted lines Conington’s verses are inserted. [E. S. S.]

NOTES

BOOK I

1:1. Arms and the man I sing. Compare the following opening lines of great epics:—

“O goddess, sing the wrath of Peleus’ son, Achilles; sing the deadly wrath that brought Woes numberless upon the Greeks ”

Iliad, Bryant’s Trans

“Tell me, O muse, of that sagacious man Who, having overthrown the sacred town Of Ilium, wandered far and visited The capitals of many nations, learned The customs of their dwellers, and endured Great sufferings on the deep ”

H, Odyssey

“Of love and ladies, knights and arms, I sing, Of courtesies and many a daring feat ”

A, Orlando Furioso

“I sing the pious arms and chief, who freed The Sepulchre of Christ from thrall profane; Much did he toil in thought and much in deed, Much in the glorious enterprise sustain ”

—T, Jerusalem Delivered

“Of man’s first disobedience, and the fruit Of that forbidden tree, whose mortal taste Brought death into the world, and all our woe,

Sing, heavenly muse.”

M, Paradise Lost.

“I, who erewhile the happy garden sung, By one man’s disobedience lost, now sing Recovered Paradise to all mankind, By one man’s firm obedience ”

M, Paradise Regained.

1:1. Troy. A city in northwest Asia Minor where the famous Trojan war took place.

1:3. Latian. The broad plain near the mouth of the Tiber, in Italy

1:5. Juno. Queen of the gods; wife and sister of Jupiter.

1:5. Much.

“Much there he suffered, And many perilles past in forreine landes, To save his people sad from victours vengefull handes,”

S, Faerie Queene.

1:8. Alba. Alba Longa, a long ridge some fifteen miles southeast of Rome. The successors of Æneas reigned there until the founding of Rome.

1:10. Muse. One of the nine Muses. Greek and Latin poets often profess to be merely the mouthpiece of the Muses.

1:14. Hate.

“And in soft bosoms dwell such mighty rage?”

P, Rape of the Lock.

“In heavenly spirits could such perverseness dwell?”

M, Paradise Lost.

1:17. Tyre. Carthage was sprung from Tyre, an old and prosperous city on the coast of Phœnicia. The founders of Carthage and their descendants are termed indifferently by Virgil Phœnicians, Sidonians, Pœni, or Tyrians.

1:19. War’s.

“An old and haughty nation proud in arms ”

M, Comus.

1:21. Samos. A large island off the west coast of Asia Minor Here were the most ancient temple and worship of Juno, here she was nurtured, and here she was married to Jupiter.

1:28. Libya. North Africa.

2:1. Fate’s.

“Those three fatall Sisters, whose sad hands Doo weave the direful threads of destinie And in their wrath brake off the vitall bands ”

“Comes the blind Fury with the abhorred shears And slits the thin-spun life.”

“Sad Clotho held the rocke [distaff], the whiles the thrid By griesly Lachesis was spun with paine, That cruell Atropos eftsoones undid, With cursed knife cutting the twist in twaine ”

S, Daphnaïda.

M, Lycidas.

S, Faerie Queene

2:1. Saturn. An ancient Italian god of agriculture, identified later with the Greek god Cronos.

2:3. Argos. A city of Argolis in the Peloponnesus. One of Juno’s favorite cities. Juno’s love for Argos played the same part in the Trojan war as her regard for Carthage plays in the Æneid. It is used here poetically for the name of the people, i.e. = Greeks.

2:6. Paris. A son of Priam, king of Troy, who eloped with Helen and caused the Trojan war. The judgment was the award of the golden apple, prize of beauty, to Venus as against Juno and Minerva.

“Here eke that famous golden apple grew, The which emongest the gods, false Ate threw; For which th’ Idæan Ladies disagreed, Till partiall Paris dempt it Venus dew, And had of her fayre Helen for his meed ”

S, Faerie Queene

In Tennyson’s Œnone, Juno offers—

“from all neighbor crowns Alliance and allegiance till thy hand Fail from the sceptre-staff ”

And Minerva—

“Self-reverence, self-knowledge, self-control ”

But Venus—

“I promise thee The fairest and most loving wife in Greece.”

2:9. Ganymede. A Trojan prince; was carried off to Olympus by Jupiter’s eagle. He was made cup-bearer to the gods in place of Hebe, daughter of Juno.

“And godlike Ganymede, most beautiful Of men; the gods beheld and caught him up To heaven, so beautiful was he, to pour The wine to Jove, and ever dwell with them ”

H, Iliad

“flushed Ganymede, his rosy thigh

Half-buried in the Eagle’s down, Sole as a flying star shot thro’ the sky Above the pillar’d town ”

T, Palace of Art

2:10. Danaan. Greek. Danaus, an ancient city of Argos. Conington transliterates various proper names, such as Argives, Achæans,

Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.