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27 April 2001
Financiers warned of 'tidal wave' of change sweeping Europe
An impressive gathering of some of Europe's leading financiers, academics, economists and businessmen met in London today to discuss capital markets and to hear how they must work to survive the "tidal wave of change" sweeping through the continent.
They were attending the Capital Markets without Borders conference sponsored by the Edmond Israel Foundation which, although only in its second year, has become acknowledged as the most important capital markets conference in Europe.
Opening the conference, André Lussi, Chairman of the Edmond Israel Foundation, told delegates: "We all recognise the tidal wave of change sweeping through our continent. None of us is immune. We see the dark clouds of economic slowdown gathering in the West and political and economic tensions rising in the Far East. If we are to survive and flourish as business people, we have to find ways of anticipating events and turning them to our advantage, of becoming masters rather than victims of change."
The Foundation, created by Cedel International in honour of its former Chairman, Edmond Israel, is a non-profit making organisation set up with the objective of supporting and promoting cultural, scientific and economic activities on a European and worldwide basis. Mr. Israel was among delegates at today's conference.
Mr. Lussi added: "Of course, the purpose of today's meeting is not just to debate issues of narrow interest to the finance sector. As a Foundation, our aim is nothing less than advancing European thinking by exploring themes of freedom, social responsibility and cultural identity and their interconnection with the worlds of business, finance and politics."
Among a glittering array of guest speakers at the conference were Professor Otmar Issing, a member of the executive board of the European Central Bank, and Dr. Noreena Hertz, of the Judge Institute of Management, University of Cambridge.
They covered a whole range of topics, from the rise of the consumer to the future of the euro, from globalisation to the opponents of global capital.
For further information, please contact:
David Hardy
Binns & Co Public Relations Limited, London
Tel: +44 207 786 9600
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Note to Editors
The Edmond Israel Foundation was created by Cedel International on 19 September 1990 in honour of Edmond Israel, upon his retirement after twenty years as Chairman of Cedel International's Board of Directors.
The Foundation is a non-profit making organization dedicated to the research and promotion of ideas of cultural, scientific, political and economic importance in the context of Europe. Its aim is to work within the framework of a changing Europe and to advance European thinking elsewhere in the world, thereby making a high quality contribution to the ongoing debates of our times and exploring themes of freedom, social responsibility and cultural identity. It aims to support and promote research and study and provide financial assistance and scholarship to promising individuals. Apart from commissioning studies, such as The Proposed Directive on Harmonisation of Taxation of Interest Payments published in January 1999, the Foundation presents the "Vision for Europe" award annually in recognition of ourstanding achievement and contribution to Europe. The 2000 recipient was to Dr Árpád Göncz, former President of the Republic of Hungary. Previous recipients were Mr Willem F Duisenberg, HE Mr Helmut Kohl, HE Mr Jean-Luc Dehaene, HE Mr Jacques Santer and HE Mr Jean-Claude Juncker.