AN ARAB SPRING TO CHANGE THE FINANCIAL SYSTEM?
6 août 2011Rencontre à Caux, le 2 août 2011, entre Paul Moore, ancien directeur de la gestion des risques de la Halifax Bank of Scotland (HBOS) et Alain Berset, membre et ancien président du Sénat suisse. Le 3 août, conférence d’Alain Berset sur le thème « Role and weakness of the state in the globalised economy »
« Vested interests and the power of the financial lobby seem to have won the day, and nothing seems to have really changed, » said Paul Moore, the former head of group regulatory risk at Halifax Bank of Scotland HBOS, internationally known as « the HBOS whistle-blower ». He was speaking at the opening of the « Trust and Integrity in the Global Economy » conference in the Initiatives of Change centre in Caux, Switzerland, this evening. A far-reaching reform agenda of the financial system needed to be backed by an « Arab Spring » of public opinion, he said.
Responding to the British « whistle-blower », Alain Berset a member of the Council of States (the Swiss Federal upper house) for the canton of Fribourg, and a self-employed consultant on strategy and public relations, thanked Moore for his speech, but also thanked him warmly for his example of courage. Berset spoke of his own efforts to look into the governance of the big Swiss banks, « giants that are faced with regulatory dwarfs ». The power of financial lobbies to protect themselves, he suggested, posed a question to democratic systems.
Berset, who was elected to the Council of States in December 2003, and has been Vice-President of the Social Democratic parliamentary group since December 2005, outlined a history of the crises: 2008 a financial crisis; 2009 a crisis of « the real economy »; 2010 a social crisis, with rising unemployment; and now in 2011, a crisis of public finances, of sovereign debt. « The only people who are not paying any price in all of this are those who caused these crises, » Berset said. « As a politician, I am very worried, » he went on, « about how quickly we are turning the page and not learning the lessons. » He thanked the conference organizers for their choice of their theme. « We are all in the same boat. This is not an end, but the beginning of a fresh reflection on society and the economy, for the common good, » he concluded.
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