Recession Global

http://www.weforum.org 28.01.2010 The financial crisis has caused an economic crisis around the world. Drastic state measures have prevented the collapse of the economic system: governments have established rescue funds for failing banks or nationalized banks for relaunching economic growth. At the same time, central banks have intervened with important injections of liquidity and have lowered interest rates.What were the causes of the financial crisis?In the future, how can such crises be prevented?What effect will state measures have in the long term? What will a global adjustment of the financial system look like? Who should develop and apply the rules?This session is co-organized with the Federation of Swiss Protestant Churches (SEK-FEPS).Ziya Akkurt, Chief Executive Officer and Board Member, Akbank TAS, Turkey Christine Lagarde, Minister of Economy, Industry and Employment of France; Member of the Foundation Board of the World Economic Forum Patrick Odier, Chairman, Swiss Bankers Association, Switzerland Nikolaus Schneider, Vice-Chairperson of the Council, Evangelical Church in Germany, Germany Juan Somavia, Director-General, International Labour Organization (ILO), Geneva; Global Agenda Council on Employment & Social Protection Joseph E. Stiglitz, Professor, Columbia University, USAModerated by Stephan Klapproth, Anchor, Ten O'Clock News, Swiss Television SF DRS, Switzerland