By Harold Nicolson
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9-27; V. Cromwell, 'The Foreign and Commonwealth Office', in Z. ), The Times survey of foreign ministries of the world (London: Times Books, 1982), pp. 542-51. E. Maisel, The Foreign Office and foreign policy, 1919-1926 (Brighton: Sussex Academic Press, 1994), p. 63. See S. Strange, 'States, firms and diplomacy', International Affairs, 68(1), January 1992. B. Hocking, Localizing foreign policy: non-central governments and multilayered diplomacy (London: Macmillan, 1993). On the changing nature of the foreign policy environment see B.
But there are no obvious principles, no clear basis of legal authority and no effective punishments available. The issue is too serious and too damaging to the essential good order of the global financial system: without such order, it cannot function, and some kind of mechanism will undoubtedly emerge. Whatever it turns out to be, it will require personnel with very particular skills, and they will have to engage with other sources of authority and power: diplomacy will begin again in yet another new context.
At another level, it may mean participating in the global market rather than relying on economic autarchy, justified by ideological rejection of capitalism, or even still the legacy of colonialism. It may also mean raising the significance of belonging to and being important within international economic organizations both regional and global. Within Europe, it means even more; it means facing and adapting to the institutional consequences, whether a member or not, of the existence of the EO, whose purposes transcend the purely economic.