Angela Merkel was the first speaker of the official programme. this followed a full day of really interesting sessions. it started with a panel engaging the question of ‘Is 20th Century capitalism appropriate and capable to deal with the 21st Century?. this was followed by sessions on global population explosion, value based companies and a small meeting hosted by GE to talk about the state of innovation. the following are a few notes from Mrs. Merkel.
What should we have learned, or should we continue to learn, from the finance and economic crisis of 2008? clearly we have not learned enough and are still coming to grips with the new reality. we still are finding that there are areas that were not regulated enough and we will be taking the political signals into consideration. there is even the signal that the results of Rio+20 will be even less than what we say before. we have learned that we are ‘all in this together’ and even more so that the crisis in the US has left deep economic wounds in Europe.
We are still of the belief that we stand together. this is critical to the project of ‘european freedom’ and yet, the number of Europeans has remained about the same over the past 30 years. how can we behave in this new world? in which we are an increasingly smaller percentage. the challenge to understand how to live with each other continues to have three parts. 1 the nationals debts. 2 the lack of political structure to support the sustainability of the euro 3 …. are we ready to protect Europe? yes. in the area of budgets, sustainability of competitiveness and jobs and last the solidarity that we belong together and that we will stand to each other.
If we are to stand to the unified Europe in the future, then we must work even harder today to ensure that we will have a political system which works. to ensure that we have financial security and for a strengthened European court system. she went on for a while longer…full speech is surely at the WEF website.