PH We missed a lot. You know, you missed, we missed the Internet, the long tail, the role of the audience, open systems, social networks.

If we fail to act responsibly on the world stage, we will fail our own people at home.

We have failed grievously in the past and must never do so again.

If we make provisions for long lives that are cut short, we will have wasted huge amounts of precious economic resources. But if we fail to make provisions for lives that are longer, many elderly people will be condemned to poverty.

We believe that if we fail to seize this opportunity, the credibility and legitimacy of the Security Council and the entire system of global governance will continue to erode, to the detriment of us all.

As long as one nation and one people are excluded from their rightful representation in our global community, we have failed to achieve our goal of universal rights and privileges.

If, however, we fail to make progress on this issue before September, the success of the summit may be compromised and the repercussions of failed Security Council reform may hamper the implementation of the Development Goals for years to come.

We were plenty aware that we were messing with media, and on the surface, it looks like we predicted a lot of the right things, but we also missed an awful lot. Let's take a look.

The only thing we got wrong was how bad banks lending practices were, how non transparent banks really were, and how inadequate their risk management systems were.

In the year since Palestinians and Israelis renewed their commitment to their obligations under the road map, we may have failed to reach a conclusive settlement to our conflict, but that does not mean that the efforts made were in vain.

Words alone cannot meet the needs of our people. These needs will be met only if we act boldly in the years ahead and if we understand that the challenges we face are shared, and our failure to meet them will hurt us all.