The President-Elect's First 76 Days

This type of global coordination of the financial system hasn't happened since the Bretton Woods conference took place in 1944. That conference was responsible for several global financial institutions still in place today, including the International Monetary Fund (IMF) and International Bank for Development and Reconstruction, part of the present World Bank. The 44 countries agreed upon the gold standard and the IMF as arbiter of temporary currency crisis.

Given the increased globalization in the last 64 years, it would make sense to have a representative from the newly elected president to have a seat at the table. Any wide-reaching agreement would have huge repercussions for their administration.

The president-elect also has to be heavily involved with the present negotiations in Iraq. The U.N. mandate for the U.S. to occupy Iraq expires on Dec. 31. The U.S. and Iraq have to come to some agreement before that date or U.S. forces may face charges of war crimes if they remain.

President Bush remains confident an agreement will be reached. However, the U.S. has been negotiating a so-called status of forces agreement for U.S. troops in Iraq for months, and new stumbling blocks arise almost daily. Last week, U.S. helicopters attacked a terrorist stronghold inside Syria. The Iraqis expressed anger over the U.S. attacking other sovereign nations from their soil. Furthermore, the Iraqi parliament appears split over the issue and nobody is certain an agreement would pass.

Obviously, we don't find ourselves in extraordinary times. Both presidential candidates and the current administration have to be ready for a strong and steady transition. The future of the world depends upon it.