The former Chilean President analyzed the situation in Latin America within the context of the international financial crisis, saying that although he was not actively involved in the measures taken to stem the financial tsunami that hit the region, he feels that managing the real economic crisis is going to be far more difficult. In his address the he spoke about Obama’s international policies, commenting on the importance of cross-border migration, and commented on global leadership, the new US president, and the changes that have to take place in global diplomacy. Moreover Lagos talked about the need to update institutions that emerged in the wake of the Second World War, although he is acutely aware of the difficulties involved in reforming the United Nations Security Council or in creating a new Bretton Woods system. The former Chilean President also expressed his support for the Spain’s presence in the G-20 and tated that he wanted to think that Brown and Sarkozy?s efforts will result in Spain also being in the upcoming meeting in London on April 2. As special envoy for climate change for the Secretary General of the United Nations, Lagos commented that we are entering a world that is very different to that of the twentieth century, and where we have to aim for an economy that is less dependent on carbon.