The Future of the Global Economy and Financial System
Friday, February 3rd, 10:00-11:30
For more than a year and a half now, the news backdrop driving movements on the financial market has been determined by the debt problems afflicting the eurozone, the possible default of Greece and its consequences. The budget deficit in the US, rate of economic growth and its stability have also been a focus of attention. As is often the case, fear is spreading faster than the events are developing themselves. Greece has not yet announced default and the other “problem” countries continue to service their debts, but the market remains very volatile – exclusively on the basis of rumors and conjecture. The heads of European countries have likely come closer to resolving the region’s debt problems, if only temporarily, which would allow the markets to recover somewhat, although the prospects for the European economy are currently rather foggy.
It is unsurprising that the decision is essentially the same in the US and in the eurozone – quantitative easing and bank recapitalization. New concerns are arising, for example regarding the prospects for economic growth in the Chinese economy. Clearly, the global economy is being transformed. The former optimism has come to nothing. What changes can one expect? What will these changes mean for the financial system? What risks will investors encounter in the future? These topics will be covered by participants in the discussion.