We speak to Davos – they say we must help the poor.
Today’s Independent reports that Business leaders rounded off this year's World Economic Forum with a call to make sure the poor benefit more from any global economic revival.
We were asked to respond to two questions for Financial News (http://www.efinancialnews.com/) for their special report to the Davos attendees.
These are the questions and our responses:
1) Is Davos just a talking shop - what do you hope will be achieved by the end of the 2011 meeting?
The term talking shop is often seen a pejorative. However there is a great need for informal discussion without the pressure to come to an agreed communiqué.
In an ideal world one would hope that the participants would have come to an understanding that unless the twin virtues of sustainability and transparency are embraced then we must expect more and more financial tsunamis.
2) Will the new rules on bankers’ pay clamp down on excessive risk taking?
What is excessive risk? For some of our clients anything more than money on deposit is excessive however for others high risk is their choice. If the investments are transparent and can be understood by an experienced investor this would automatically ensure that the risks are not excessive for the individual client.
