The World Economic Forum attracts business, political, academic and other leaders for opened discussions about the current economic issues. Among sustainable global economy growth and risks matters concerns regarding Europe's economic growth is highlighted at the annual meeting in 2011.
In 2010 EU leaders brought together EU cross-board groups to enhance coordination between national authorities regarding the improvement of corporate governance, harmonized monitoring and supervision of alternative investment funds and enhanced supervision of Credit Rating Agencies. EU framed the European Financial Stabilization Mechanism (EFSM) and the European Financial Stability Facility (EFSF) to assist member states in financial difficulties, agreed on permanent European Stability Mechanism (ESM) and supported Greece and Ireland. The leaders imposed greater budgetary discipline, initiated propositions regarding structural reforms for enhanced economic governance as well as established European Systemic Risk Board (ERSB) and three other cross-board supervision authorities for banks, markets, insurances and pensions - European Banking Authority (EBA), European Securities and Markets Authority (ESMA), European Insurance and Occupational Pensions Authority (EIOPA).
However, despite these actions investors still concern about the Europe’s financial stability. The collective defence efforts were taken but who will break the ice, combine the advantageous of the region and lead through the breakout?
About Me
- Asta Pravilonytė
- Every manager can call him or herself a good strategist if he or she only works within an environment that is favorable; however, it is only in times of stress that one truly learns what one's capabilities are!
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