- Category: Trade & Investment Policy
Paris, 06 October 2014
Former President of the European Central Bank Jean-Claude Trichet, addressed a meeting of the ICC Executive Board last month in Paris, giving his perspectives on the global economy with an emphasis on Europe and the monetary policy of central banks in advanced economies.
Mr Trichet told the executive gathering that the swift decisions taken by central banks in advanced economies were to thank for avoiding an economic slump worse than the Great Depression of the 1930s but noted that the crisis had exposed structural defects of advanced economies that must be repaired to avoid further crises.
“We are still in the aftermath of this dramatic crisis and a lot of anomalies observed today can be explained by remembering what happened exactly six years ago,” Mr Trichet said.
Mr Trichet gave his perspective on events leading up to and following September 2008, which he pinpointed as the start of the worst financial crisis ICC had seen in its 93-year history.
“Clearly what we had in August 2009 could have been worse than we had in 1929/1930 and advanced economies had to prove that they were able to cope with a dire situation in a changing world.”
Warning that much vigilance was still required in the wake of bankruptcy, Mr Trichet said that while global economic growth remained disappointing, risks were nevertheless on the downturn.
- Category: Trade & Investment Policy
Paris, 18 September 2014
The International Chamber of Commerce (ICC) is appealing to trade negotiators, reconvening this week in Geneva, to find a way forward to implement the World Trade Organization’s Trade Facilitation Agreement (TFA) following the breakdown in talks in July.
Realize TFA benefits without delay, ICC tells trade negotiators Harold McGraw III, ICC Chairman, said: “We urge WTO members to bridge the gap necessary to get the Trade Facilitation Agreement in place. There is no logic in delaying implementation of a deal that could add a possible US$1 trillion to global GDP—generating millions of jobs in the process.”
July’s missed deadline came as a huge disappointment to the global business community but ICC has emphasized that a deal is still possible in the weeks ahead.
Mr McGraw added: “Despite the procedural impasse, we are still seeing many developing economies pressing ahead with plans to implement the agreement. This progress should not be forgotten and should drive momentum to make further progress in the coming weeks.”
- Category: Arbitration and ADR
Paris, 03 September 2014
Companies and their legal counsel wanting to retain control over business-to-business disputes may still register for ICC’s 5th International Mediation Conference, set to take place in Paris on 18 September.
Learn from dispute-wise in-house counsel to gain control in commercial disputes Specifically tailored to the interests and needs of in-house counsel and management representatives, this unique one-day forum is a pragmatic way for users of commercial dispute resolution to exchange best practices and know-how and to discuss techniques for effective conflict management, avoidance and early dispute resolution.
“As a world leader in administered mediation, the ICC International Centre for ADR has lent its expertise to the conference that will focus on ways to negotiating the settlement you need – whether it be in mediation or in any other form of negotiation or dispute resolution proceeding,” said Hannah Tümpel, Senior Counsel of the ICC Centre for ADR and a conference moderator. Ms Tümpel joins an international line up of speakers who include David Parker, Group Executive Director of Chinachem Group (Hong Kong), Michael McIlwrath, Associate General Counsel – Litigation, GE Oil & Gas (Italy) and Abhijit Mukhopadhyay, President (Legal), Hinduja Group London (India).