Worrying activities on the Exchange rate market

 We are all witnessing today very strong activities on the monetary markets and an unprecedented appreciation of the Euro versus the Dollar.

Is this situation to stay? To answer this question, one must look at the current macro situation of our economies. The US FED has started an inflationary policy in an effort to deal with a series of urgent issues. The first is related to the job market where almost 17% of active Americans are either jobless or work on a part-time basis. The second is linked to the junk credits inherited from the real estate market and that were partly responsible for the world financial crisis. Those junk credits will simply never be reimbursed by any “regular” channels. Indeed, since no one had forecasted the magnitude of the problem, there were no organization put into place that had been foreseen to be in a position to act in case of a major failure such as the one we encountered. It will be therefore for the US Government to tackle that issue, by reimbursing those junk credits, and those are not small amounts. On an international level, one must note that other developing countries, since September 21st, that are known commercial partners with the USA, have also launched strategies of inflationary policies in order to keep the level of the exports aligned with the dollar therefore maintaining a lower level of their currencies. With the exception of China, another example is the one of Japan that intervened drastically on September 15th. , purchasing more than $ 25 billion on the exchange market. The reaction of the European Central Bank has been very different. The ECB decided pretty much to do nothing and did purchase very low levels of sovereign bounds recently. In effect, the ECB seems to believe that at a macro-economic level the European economy is not doing that bad with respect to the growth levels showed by a limited number of European countries such as the one of Germany that represent 35% of the European GDP. If we take a further example of the Gas consumption levels, the one of Europe increased by 10%, when it increased by 16% in Germany on the first semester of 2010 compared to the one of 2009. As a consequence, if the ECB was to over-evaluate the Euro, this could have catastrophic consequences since no countries apart from Germany and the Netherlands could be in a position to sustain such as situation. The result of such a behavior would be an immediate increase of unemployment that is not sustainable given Europe today’s unemployment rates and forecasts. Furthermore, the consequences of an over-evaluated Euro could simply be the destruction of the Euro zone. However, the position of the ECB might not be a sustainable one: the structural difficulties the Euro are linked to the crisis of public financing such as the ones of Greece, Ireland or Portugal and they are lasting. There are other fragile economies in Europe such as Italy or Spain that require a thorough monitoring. France situation is most likely to become central point at the time of the upcoming Presidential elections in 2012.

read more

Posted in Economy, Public Affairs, Social Issues | Leave a comment

France’s retirement age at 62 from now on

The French Senate recently voted on the legislation that makes the retirement age for French workers 62 years old instead of 60. Many strikes and unrests resulted from that new vote from the French Parliament. Social unrests still go on today, and France will be blocked again on October 12th. But does France has a choice? And, is that legislation the right one, or will it be again amended?
Posted in Economy, Social Issues | Leave a comment

Governments should work together to ensure stability of our nations

Very interesting and short presentation from Dominique Strauss-Kahn,  General Manager of the IMF prior from its meeting with the World International Organization in Oslo.

Social Welfare will be discussed in Oslo as a mean to prevent world social, economic and institutional instabilities.

This topic and related ones are of particular importance at a moment social unrest shake European countries (France September 23rd. and Spain September 27th.)

read more

Posted in Economy, Foreign Affairs, International Relations, Public Affairs, Social Issues | Leave a comment

Who is Frank Farnel ?

Frank Farnel is Director Communications and Public Affairs for GE Energy Europe EMEA. This business segment includes Energy Services, Oil and Gas as well as Power and Water.

In this role, Frank is responsible for Global Communications, Media Relations, Internal Communications, Government, Public Affairs, and Community Strategies.

Frank joined GE Energy after holding several key leadership positions in Communications, Lobbying and Public Affairs in large international companies.
Prior from joining GE Energy he was Director Communications and Public Affairs Bombardier Transportation.
He held Product and Line responsibilities acting as Manager International Operations Sub-Saharan Africa and Indian Ocean for Renault.

read more

Posted in Lobbying, Public Affairs | Leave a comment

Munich

Munich.

GE’s European Center of Research and Development open its doors to European Regions

Key regional decision makers met to discuss the role of industrial innovations in both sustainable growth strategies and the fight against climate change

Garching/Munich (D), 8 April 2010

AER and GE Energy today commenced a two-day event, “Innovation in Energy and Research Policy” at their European Research and Development Center, “GE Global Research Europe” in Garching near Munich, Germany.

The event will attract regional decision makers from all over Europe as well as key members of the Assembly of European Regions (AER) including AER President Michèle Sabban and General Secretary, Klaus Klipp. The aim of the event is to discuss the role of industry expertise in aiding the European Union’s fight on climate change and to present the important role of enterprises such as GE Energy in the delivery of innovative energy solutions that are needed to do so.

read more

Posted in Communication, Lobbying, Public Affairs | Leave a comment

1st European Regions Energy Day in Brussels

European Regions Energy Day.

Providing regional responses to energy challenges

read more

Posted in Communication, Lobbying, Public Affairs | Leave a comment

Lobbying, Public Affairs and Communications to work better with Governments

One of the key take away following the shocks of the financial, economic and social crises all economies have had to suffer from, is that Public and Private sectors have now to collaborate with each other.

In effect, the only sustainable solution for challenges like Energy, Climate Change, Jobs, Stress, etc… rely into companies and governments working together as partners.

Within the framework of this new deal, jobs like Public Affairs, Lobbying, and Communications become truly strategic in order to find and implement the right solutions. At a time communication is immediate, those jobs require professional and ethical players.

read more

Posted in Communication, Foreign Affairs, International Relations, Lobbying | Leave a comment