economy

The Guardian: Keep it in the ground

18 April 2105, The Guardian This newspaper launched a campaign focused on moving away from a global economy run on fossil fuels. Alan Rusbridger: “The argument for a campaign to divest from the world’s most polluting companies is becoming an overwhelming one, on both moral and financial grounds.” As Archbishop Desmond Tutu puts it: “People of conscience need to break their ties with corporations financing the injustice of climate change”. Read more >

La collectivité dans la Troisième Révolution Industrielle

3 mars, 2015, PRIMO France Vers une nouvelle revolution industrielle La Première Révolution Industrielle naît de technologies mécaniques utilisant la vapeur d’eau comme force motrice, permettant l’essor de transports rapides et augmentant la vitesse de communication tout en réduisant les coûts d’impression. Locomotives, presses rotatives et linotypes sont quelques-uns des outils mis à disposition, et ont favorisé l’alphabétisation de masse et la communication, en convergence avec une volonté politique d’enseignement public. Tout ceci contribue à faire émerger une main d’œuvre […]

What’s Wrong with Risk Models?

April 27, 2010, The New Yorker First up, sincere apologies to the organizers and attendees of the Milken Global Forum, in Los Angeles, where I was due to appear this afternoon at a session about economic models of risk. I was looking forward to engaging the other panelists, who included Nobel laureate Myron Scholes, of “Black Scholes” fame; Colin Camerer, a Cal-Tech behavioral economist I’ve written about in the past; and Aaron Brown, a former Wall Street risk modeler. What […]

Malta: Risk Assessment

Source: Global Edge Resilient growth but dependent on European demand Malta’s economy is the most open in the EU after Luxembourg. Growth still depends on the economic situation in the rest of the EU, which absorbs nearly half of exports. The production of electronic components and exports of pharmaceuticals are expected to remain buoyant in 2014. Moreover, the strong tourist industry (25% of GDP) still supports the services sector. The number of holidaymakers (85% coming from Europe) has been growing […]

Global Risks Report 2011

Source: World Economic Forum and Marsh & McLennan “The financial crisis has drained the world’s capacity for dealing with shocks. The frequency and severity of risks to global stability have amplified, while the ability of global governance systems to deal with them has not. From the Executive Summary The world is in no position to face major, new shocks. The financial crisis has reduced global economic resilience, while increasing geopolitical tension and heightened social concerns suggest that both governments and […]

Risk to regional economies

UK trade union bodies warn of risk to regional economies from cuts Read also article: Coalition cuts will hit poor 10 times harder than rich, says TUC (The Guardian) Why Robert Chote gets my vote, New Statesman Source: The Trades Union Congress (TUC), United Kingdom This is clear language. The statements and analyses are transparant. Those risks will be faced by all countries in Europe. PRIMO underlines the risks we are facing in the coming years by budget cuts. It […]

Rethinking Risk Management in Financial Services

Practices from other domains Source: World Economic Forum, prepared in collaboration with The Boston Consulting Group. Letter from the Steering Committee: “The financial crisis has, to put it mildly, seriously challenged our traditional approach to risk management. Consequently, a number of individuals and institutions have advanced ideas for improving not only the analytical framework, but also the status and relevance of risk management. This report, not only reacts to the most recent episode (although we indeed reference many relevant examples), […]

#1 State of the Union EU

“You can trust the European Union to do what it takes to secure your future” Source: European Commission Speech: President José Manuel Barroso Commission President José Manuel Barroso set out his strategic plans for the EU over the next year in his State of the Union speech to the European Parliament. “My message to each and every European is that you can trust the European Union to do what it takes to secure your future,” he said. The EU’s economic […]

Lomborg: Europe’s determination to decline

Looking closely into the exact correlation of factors is half the work of good public risk management. Bjørn Lomborg lines out how economic crisis and managing climate related targets are interrelated. So called advantages are not always how appear to be, more than that they slow down a development. Source: Politiken.dk By Bjørn Lomborg, head of the Copenhagen Consensus Center, and adjunct professor at Copenhagen Business School “In a heroic case of finding a silver lining in the bleakest of […]

Companies: More growth than fear

Source: McKinsey&Company Economic Conditions Snapshot, June 2010: McKinsey Global Survey results “Although economic confidence is clearly shaken, more executives remain positive than negative overall, which likely explains why most expect their companies to continue growing. Although fully ten percentage points fewer now expect consumer demand to grow this year than did so in April—down to half—the same share as in April expect to hire, mostly for full-time positions. The share expecting profits to grow this year is only slightly lower, […]

The social crisis warrants as much political commitment as the banking crisis

Source: Committee of the Regions 03.06.2010 – Europe’s financial and economic crisis is increasingly becoming a social crisis too, and is testing European solidarity to the limit. The EU’s territorial cohesion and public confidence in European integration are both at stake. At their plenary session, to be held on 9 and 10 June 2010, the elected representatives of Europe’s regions and local authorities, meeting as members of the Committee of the Regions, will voice the public’s expectations for the European […]

Eurozone in crisis

Source: BBC One of the main causes of the currency crisis in the eurozone is that virtually all countries involved have breached their own self-imposed rules. Under the convergence criteria adopted as part of economic and monetary union, government debt must not exceed 60% of GDP at the end of the fiscal year. Likewise, the annual government deficit must not exceed 3% of GDP. However, as the maps show, only two of the 16 eurozone countries – Luxembourg and Finland […]

The Financial Crisis, an opportunity for balancing risks in Infrastructure Projects and Public Private Partnerships?

Partnership risk is seen as one of the main risks by Public Entities in the Risk Survey that Marsh and PRIMO Europe conducted in the third quarter of 2009. The survey shows that 59% of participants rate partnership risk significant – a similar amount as for public liability and business continuity risks.   All over Europe, unsuccessful projects have increased by the downturn. As a result the number of transactions and the total value has gone down. The companies bidding for […]

G20-agenda: risk management

On the 14th of March, next week, the G20 countries are meeting in London to prepare for the global economic summit next month. What will be on the agenda? Financial regulators as tax, funds and bonusses. Of course. But the real focus will be on prevention and avoiding disasters. for the future. Quite an ambition. It seems to be a first but firm reaction: “The G-20 now has a crucial role in driving forward work between advanced and emerging economies […]

Global Risks 2009

Preface by Klaus Schwab Founder and Executive Chairman World Economic Forum “2009 will be a year of learning the lessons of the financial crisis; a year where its reach in terms of time and scope becomes more evident; a year that calls for a new financial architecture to be shaped. At the same time, it will be a year that will test the resolve and willingness of world leaders to collaborate and take action to move beyond this crisis. The […]

Global Risks 2008

Introduction Report World Economic Forum “Over the last year, a series of risk issues – from the liquidity crisis in the financial markets to the emerging concerns over the long-term security of food supply – have focused global attention on the fragility of the global system. An awareness of risk and risk management is increasingly viewed as a prerequisite for effective control in both the private and public sectors. This year will be no different. Uncertainty about the short- and […]

Micro-Managing the Macro

A soft introduction to a hard landing of our financial system. By Jules Muis, Former VO & Controller of the World Bank. In common parlance, ‘micro-managing’ does not have a particularly heartwarming ring. It connotes decisions being made by bean counters at the expense of the bean makers. It sounds, in particular, un-sexy when put to those high-flyers among us who see it as their job to comfortably float 30.000 feet above the economic landscape. A soft introduction to a […]

Global Risks 2007

Introduction Report World Economic Forum “At the core of this year’s overview of risks to the global community over the next decade is a fundamental disconnect between risk and mitigation. Expert opinion suggests that levels of risk are rising in almost all of the 23 risks on which the Global Risk Network has been focused over the last year – but mechanisms in place to manage and mitigate risk at the level of businesses, governments and global governance are inadequate. […]

Stern Review on the Economics of Climate Change

Report from the HM Treasury (UK, 2006) The scientific evidence is now overwhelming: climate change presents very serious global risks, and it demands an urgent global response. This independent Review was commissioned by the Chancellor of the Exchequer, reporting to both the Chancellor and to the Prime Minister, as a contribution to assessing the evidence and building understanding of the economics of climate change. The Review first examines the evidence on the economic impacts of climate change itself, and explores […]