DAVOS, Switzerland (CNN) -- The worldwide economic recession has exposed a "crisis of global governance" that can only be addressed by the radical reform of the United Nations, former U.N. Secretary-General Kofi Annan said Wednesday as the World Economic Forum got under way in Switzerland. Kofi Annan says the United Nations needs to be reformed. "The current architecture of managing global affairs is broken and needs to be fixed," Annan said on the opening morning of the five-day annual meeting of global political and business leaders. "We have major new players coming on the scene and they need to be integrated and given a voice."
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Kofi Annan calls for reform of U.N. at World Economic Forum in Davos
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Annan says economic recession has exposed a "crisis in global governance"
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Rupert Murdoch: Western world has been living "way above our means"
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HSBC boss Stephen Green admits banks "didn't cover themselves in glory"
CEO @placeholder said delegates needed to be "absolutely honest about where the world is at this point," warning that the consequences of $50 trillion being wiped off personal fortunes had left people feeling "depressed and traumatized."