Saturday, 29 January 2011
2011 World Economic Forum in Davos: leaders and laggards
At the World Economic Forum in Davos, leader economy Germany sent the Chancellor Merkel to warn countries worldwide about another potential crisis . This is not a path breaking innovation, though it may not hurt re-emphasising that the crisis may not be over (repetita iuvant) and the German government stands in a good position to send reminders after credibly turning the domestic economy around. As per laggards, apperently Italy and its underperforming economy had little reputation to speak. Hence, a non-public meeting was instead organised to warn entrepreneurs of the risks that the country is running due to its poor governance and sluggish growth, as per a report in the Italian press . The Italian finance minister Tremonti had called a press conference and could not attend the meeting: correlation or causation!?