World Economic Forum is ready to help in revitalizing economy. During the Meeting 2009 in Davos Vladimir Putin, Prime Minister Of Russian Federation, took a speech outlining key points for future coordination in economic sphere.
He mentioned that while the government will help with debt servicing and lending, the key initiatives will be lower taxes, boosting domestic consumption and other ways of creating an attractive environment for investment. Also Putin warned against state interference in the private sector.
The prime minister also called for international action to promote global energy security, pointing out that the extreme volatility of energy prices helps no one. He said Russia will do its part by building new gas pipelines across the North and Baltic Seas, thus avoiding problems with gas supply, an apparent reference to Russia’s recent face-off with Ukraine over pipelines that pass through Ukrainian territory.
Other participants of the Forum also shared their opinions regarding current financial climate in the world. Like Putin, Hans-Rudolf Merz, President of the Swiss Confederation and Federal Councillor of Finance, believes that the unprecedented crisis also creates opportunities to remake the global financial system. In his welcome address, the president called for a return to the basic values of trust and sustainability, and the development of a new philosophy for regulation of the financial sector and global rules for global players.
“What we are experiencing is the birth of a new era, a wake-up call to overhaul our institutions, our systems and, above all, our thinking and our actions, and to adjust our attitudes and values to the needs of a world which rightly requires a much greater degree of responsibility and accountability,” says Klaus Schwab, founder and executive chairman, World Economic Forum.
“With the engagement and leadership of the Annual Meeting participants, “Davos can act as it has done already a century ago, as a healing and revitalizing force, as a magic mountain, as a true sanatorium for the world, its economy and society.”
L.D.