What happens when a global bank fails?
An Economist simulation Sponsored by Allianz Global Investors
“Three years ago, with Lehman Brothers’ collapse and the precipitous deepening of the financial crisis, the outlook for the global economy was dire. Today, the huge global imbalances that were the backdrop to the financial crisis in 2008 are arguably worse than ever. Countries from America to Japan sag under the weight of enormous debts which, since the crisis, have only grown bigger. In Europe, tension between highly indebted “peripheral” countries and the big European economies that are expected to rescue them threaten the future of the euro itself.
“Meanwhile, emerging economies from China to Brazil, which have surged in recent years, are battling the growing pains that come with their fast-growing economies—from inflation to widening inequality. The result is a complex shift in the balance of economic power—not simply from the West to the “rest”, but from countries lacking in natural resources to those rich in them, from those deeply indebted to those with savings to spare…
“This year’s Buttonwood Gathering will bring together thought leaders, practitioners and provocateurs in the international finance community to tackle the tough challenge of how to put the world economy on a more balanced footing.”
- H. Rodgin Cohen, Senior Chairman, Sullivan & Cromwell
- John Dugan, Partner, Covington & Burling
- Diana Farrell, Director, McKinsey & Company
- Peter Fisher, Senior Managing Director and Head of Fixed Income, BlackRock
- Donald Kohn, Senior Fellow, Brookings Institution
- Jay Powell, Visiting Scholar, Bipartisan Policy Center
- Lawrence H. Summers, President Emeritus and Charles W. Eliot University; Professor, Harvard University
Read the full agenda here. VIDEO