The European Union (EU) 1 clearly aspires to play an active role in harnessing globalization in line with its interests and values as the quote above illustrates. The European Council Declaration on Globalization emphasizes the importance of multilateral co-operation in international domains such as climate change and energy, fi nancial markets, trade relations, sustainable development, and global security and migration. It concludes that globalization is ‘a source of opportunity rather than a threat’, and that ‘we will continue building a stronger Union for a better world’.