Water security is a global concern as the challenge of securing safe and plentiful water for all is one of the most daunting challenges faced by the world today. Humanity is facing a "water bankruptcy" crisis even greater than the current financial crisis that is destabilizing the global economy. This water crisis is already beginning to take effect and there will be no way to bail the earth out of increasing water scarcity. To achieve water security, new enabling environments and instruments are needed, including policy tools that leverage economic and social complementarities, fiscal measures, strengthened institutions, innovative financial mechanisms, skills development, improved information and monitoring, and a focus on increasing water productivity and responsiveness to change.