Efficient financial centers rely on innovation and technology, Edouard François de Lencquesaing
The global crisis is more or less over. The G20 has absorbed the lessons of the crisis. Financial stability issues have been addressed and solutions are being implemented. The G20 l triggers next steps of the global program: How to better finance growth? How to face the new balance between classic banking & credit and capital market services? What is the role of long term investment? How will it face the global challenge of pensions, infrastructures and sustainable economy in a climate change context?
The answers to those strategic questions are not in the “sky” or in any global abstractions. The answers are in our hands at the local level – obviously under the umbrella of common principles & best practices. This umbrella will leverage economies of scale and minimize fragmentation & regulatory arbitrages that are sources of risk and competitive bias.