The tortuous handling of the Greek debt crisis showed serious limitations of financial cooperation in the euro zone and came close to Greece exiting the common currency. However, for now the crisis has been more or less kept under control. Countries remain far apart on how to improve sovereign debt crisis restructuring with the global south trying to work out a framework under the UN, while the global north prefers the IMF as the reform platform.

Authorities have continued to tweak banking regulations beyond Basel III, and to develop rules regarding futures and other derivatives, including trying to find ways to use the huge amounts of derivatives trade data that have been collected.

The establishment of the New Development Bank and the Asian Infrastructure Investment Bank have brought more financial resources and, more importantly, competition to development financing. Both the new banks and the traditional development banks have expressed a desire to collaborate in funding development, though thus far no concrete steps have been taken.

A small number of countries (notably the United States) have thus far approved the Trade Facilitation Agreement. The World Bank has provided assistance to developing countries regarding border management and access to information. But the progress has been minimal, with many countries expressing doubt that they can secure domestic approval of the Agreement in the near future.

The US-China agreement in late 2014 was a breakthrough and may provide momentum for further cooperation in the future.