Christine Lagarde admires determination of global community amidst uncertainty
On Wednesday November 2nd at 7:30pm (CET), representatives of the B20 Business Summit officially released the final report and held a gala dinner featuring South Korean President Lee Myung-Bak and International Monetary Fund Managing Director Christine Lagarde. The gala celebrated the G20′s acknowledgement of the importance of businesses and corporations in achieving global economic and development goals. The world’s most prominent and successful CEOs and entrepreneurs were in attendance including Benoit Poiter, Chairman and CEO of Air Liquide; Robert E. Diamond, Jr., CEO of Barclays; and Eric Schmidt, Executive Chairman of Google.
During her address, Christine Lagarde acknowledged the fact that European states must “navigate close to the wind” and create sound financial regulatory policies in the midst of fiscal consolidation issues and general economic uncertainty. However, Lagarde was quick to highlight the fact that she has never seen as much determination to coordinate an action plan to address global financial problems. Furthermore, she stated the “resilience of Europe is admirable” and will be needed to “simply endure the bumps in the road ahead”.
While the sails ahead are less than smooth, collaboration, determination and sound policy coordination will ensure the sound navigation of global economic waters for years to come.
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