20 May Finance Summit will fail unless trust is restored to protect the French economy
As Angela Merkel hosts a key finance summit today – more regulation is firmly on the agenda to protect the euro zone economies.
With fears growing in France as one of Europe’s biggest economies that French taxpayers are paying for the brunt of the rescue package for the Greek debt crisis, and with the euro continuing to suffer on the world markets, the cost to the French economy is continuing to rise.
Experts warn that the regulation approach proposed by Angela Merkel is seriously flawed and doomed to fail. Christopher Wasserman President of the Zermatt Foundation warns that;
Regulatory measures proposed at the summit are not going to provide the long term solution which will protect the French economy against the continuing loss of investor confidence. The US is one of the world’s most regulated markets, but it has given birth to the credit crunch one of the deadliest diseases of our time. France’s policy makers and key decision makers in business urgently need to lay down stable foundations based on a responsible approach to risk. They need to operate under a more transparent and accountable ethical mandate, and this needs to be replicated at EU level in order for investor confidence to return to the Euro zone and instil trust for the common good of both France and the EU.