スイスのダボスの世界経済会議での主人公は、中央銀行総裁
Los banqueros centrales hechizan Davos
Davos convierte en estrellas a los responsables de los organismos monetarios
Lagarde pide a los Gobiernos que no se relajen con las reformas y los ajustes
Alicia González Davos (Suiza) 26 ENE 2013 - 22:55 CET
Someone commented that compared to the Davos meetings, the Organization of Petroleum Exporting Countries (OPEC) seemed a convention of Tibetan monks and lacked a point. The World Economic Forum has grown in size and spectacle every year is more like a festival full of stars. All kinds: business, academic, political, economic and, this time, to the royalty of central and northern Europe have joined the show.
Although, in reality, the real stars of this edition were the governors and presidents of central banks. "You are our new heroes, central bankers are our heroes and we should be grateful", once said in an enthusiastic discussion Anshu Jain, co-CEO of Deutsche Bank. The few discussions on the challenges faced by developed and emerging economies and how to handle the crisis have taken place around, almost exclusively, of monetary policy. Even so imported, through the confrontation that have kept the Bundesbank and the Bank of Japan about the Japanese threat to end the independence of the central bank and the risk that it derives, according to the German in a currency war .
In this year's World Economic Forum has reigned a certain complacency
"Central banks should not take the mistakes of the politicians," he warned from Chancellor Angela Merkel Davos. But the crisis has shattered many myths, even with that. "The action limit is our mandate, price stability. And the policy developed by the entity in this crisis shows that we can do much within our current mandate, "reproached an exultant president of the European Central Bank (ECB), Mario Draghi, now under question for his role in overseeing the Monte dei Paschi , in his time as governor of the Bank of Italy.
For a litany unavoidable where there was a breadwinner, a central banker or a German, in this case, did not care that it was work-stress that monetary policy can not do everything and that governments must do their part to put up the real economy and get on with the adjustments and reforms. "I worry that we have generated over-reliance on central banks around. Seem the only player in the game. And they can buy time, but not solve the problems. The debate has taken on a dimension absurd, "said a former central banker Axel Weber, now at the head of UBS. There is a threat, as I said the managing director of the International Monetary Fund, that without these reforming or a relaxation of austerity provoke a relapse into crisis. "Do not relax!" Christine Lagarde yesterday called on the governments, especially in Europe.
This is what Mark Carney, the star of all bankers, now at the Bank of Canada and from July 1 to the Bank of England, called the risk of complacency. "When I arrived here on Thursday night, the issue was that the risk of a messy episode had been markedly reduced. Last night at dinner, and were taken for eliminated. And the stakes are still very high, "cried yesterday. There are few policy makers have warned that the shadow banking remains unregulated, the industry continues to work with very complex products and that still has too much weight on the economy.
A latent risk is the impact of the massive injection of liquidity in future inflation
The debate on the day after the crisis and the withdrawal of the stimulus has not only begun, but has made clear that "no one world", as stated Ray Dalio, president of Bridgewaters Associates, one of the largest investment funds in the world. Dalio gave as an example the rapid growth of debt in China in contrast to the recession in Europe. Hence, the president of the China Investment Corporation (CIC), Jin Liqun, put the emphasis on the risk of inflation resulting from the massive liquidity injected by central banks in the crisis. "Maybe you have to stop the central bank," Liqun said. And the truth is that it is uncertain ground for all. "We have to be humble and recognize that we do not know what these policies will bring us in the future," admitted bank governor of Italy, Ignazio Visco.
This discussion will be for another edition. Davos yesterday at half worked with many of the participants in the ski slopes, a fact attributed Carney, half jokingly, that complacency had settled among businessmen attending the Economic Forum, the first of the last five years without risk of imminent catastrophe. Only a small demonstration marred the sunny day. Three activists, one Ukrainian and two French, belonging to the feminist group Femen topless protest, despite the 14 below zero, against the world elite in Davos concentrated.
中央銀行総裁エンチャントダボス
ダボスは、金銭の責任スターを作る
ラガルドは改革と調整を楽しみながらリラックスしていない政府に呼びかけ
アリシア·ゴンザレスダボス(スイス)2013年1月26日 - 午前22時55 CET
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