by Giles Broom
February 1, 2010 | 11:56
Networking in Davos comes to a close with the end of the 40th World Economic Forum annual meeting on Sunday. A tentative agreement on a new global banking insurance levy answers some of the questions over whether the forum actually impacts on global policy decisions, but the details of the scheme are unknown. More tangible commitments are made on humanitarian relief.
Reports say a new global banking insurance levy gained support from delegates at a meeting at the World Economic Forum on Saturday between bankers, finance ministries, regulators and central banks. The meeting included discussions which “haven't in a sense solved the issues,” but have “pushed them forward,” said Peter Sands, chief executive of British bank Standard Chartered, at a closing panel session.
French President, Nicolas Sarkozy helped set the agenda for this year’s forum with strong words for bankers at the opening session. Accompanying Sarkozy on the podium, Swiss president Doris Leuthard, who also heads the economics ministry, also criticised financial institutions’ response to the crisis.
The Swiss Bankers Association was not invited to the Saturday meeting, but several of its members attended, according to bankers’ spokesperson Jean Marc Felix.http://www.swisster.ch/news/business/da ... evy.html-0
Watch the initiative. I read in today's news that UN Secretary Ban has expanded Clinton's envoy position in regards to Haitian reconstruction.And former US President Bill Clinton announced a joint initiative between the World Economic Forum, the Clinton Global Initiative and the UN to support Haiti’s long-term reconstruction.