Saturday, October 9, 2010

"We want peace not war..."

These were the words of French Finance Minister, Christine Legarde as the International Monetary Fund's (IMF) annual conference took off in Washington.

The issue they are all talking about is "currency wars"and specifically the efforts to boost exports by embracing weaker currencies. Many have argued this will lead to protectionism and trade imbalances when economic growth is at its most vulnerable.

The Chinese "undervalued" yuan was at the forefront of the argument as foreign officials have called for the currency's speedy appreciation. China has said it wants to avoid "shock therapy" and the yuan will have a "gradual" rise.

However IMF Managing Director, Dominique Strauss-Kahn said using currencies as a means to dictate economic policy would lead to "very bad situations."

The fear amidst it all is a relapse into the recession....

Saturday, June 26, 2010

Cogs Are Turning

It has been a while – sorry for the delay, but the last year has been hectic and amazing. I don’t have to tell you that politics is the same, we are seeing some movements in the financial crisis and the US is through to the next stage in the World Cup in South Africa!

On a serious note, 2010 is bringing some renewed excitement in business. I know we are not out of the woods just yet, but those cogs are turning and this machine is beginning to shift. I am steadfast in my prediction – I said in my first ever blog in May 2009 that the “recent financial crisis will demand the consolidation of our financial industry over the next five to seven years” – I stick by that statement!

Watch this space. I promise I won’t leave it this long next time.