ABSTRACT
The Asian turbulence has brought a new challenge to Asia-Europe cooperation. The lack of legitimacy can be perceived as a 'democratic deficit', a term also widely used in the discussions concerning the issue of subsidiarity in the reform of European institutions. The need for such legitimacy has become obvious again particularly in the recent Asian Crisis when international monetary fund (IMF) measures were occasionally opposed as being solely Western-made. Only proactive member participation will allow the international system to evolve into a modern form of participatory governance or omnilateralism. There are numerous examples of omnilateral contributions in the Arabic world. For instance, the concept of interest-free loans is prescribed under Sharia for Islamic banking. Muslims consider the excessive nature of interest to breed exploitation and inequalities that run counter to the egalitarian objectives of Islam. The multilateral organisations, however, are expanding their geographical, and thereby also cultural, reach and hence should likewise encompass their new members' particularities.
