Deloitte experts weigh in on top issues affecting global business agenda
Greek debt crisis, regulation, and the ‘Green Business’ initiative
New York - As the global economy begins a slow, but shaky recovery, the business landscape continues to be affected by numerous political, economic and social events. In the second installment of Deloitte Touche Tohmatsu’s (DTT) 20/20 Global Shift series, global leaders from DTT and its member firms examine three events shaping the current global business agenda-- the Greek debt crisis and its affect on the Eurozone, globalization of regulation, and the ‘green business’ initiative.
Future of the Eurozone
* While the euro is not without its problems, the single currency has delivered a number of benefits to the participating countries, such as the increased prominence in global markets, as exemplified by the euro’s strong reserve currency position.
* The response to the current debt crisis will likely involve the strengthening of the political cooperation within the Eurozone, as well as consolidation and austerity measures in countries that have run economic policies which have proved unsustainable.
* Preserving and strengthening the monetary union is in everybody’s interest and Eurozone governments should work toward establishing an optimal currency area.
Globalization of Regulation [live 28 April]
* Current regulatory frameworks failed to protect investors and communities from a financial meltdown. With moves toward reforming the financial market regulation at the national level gaining speed, the need for a common global approach to regulation is more important than ever.
* Inward-looking regulatory frameworks bring about risks, such as regulatory arbitrage and increased business costs with limited commensurate benefits.
* Adopting a global regulatory framework has proven difficult, given the different national legal frameworks on either side of the Atlantic and within the European Union.
* Given the pending regulatory changes, it is more critical than before for businesses to stay informed and build positive and productive relationships with policy makers—not with the self-interested goal of seeking short-term benefits, but with an eye toward creating a sustainable solution that will serve the interests of the society and business over the long term.
Business and the ‘green growth’ initiative [live 29 April]
* Climate change & sustainability will be a key driver of future economic development, and will have lasting impact on how companies view profitability and see opportunity.
* Some CEOs are now viewing the green initiative not only as a means of reducing costs, but also as an opportunity to offer new products and services.
* Businesses are at three stages of implementing sustainability initiatives: compliance, cost-savings, profiting from green.
* China’s commitment to domestic “green growth” approach impacts other economies.
The 20/20 Global Shift podcast series is part of Deloitte Global Insights and is updated every quarter. It identifies top-of-mind business issues that are being impacted by significant non-cyclical shifts in the global environment.
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu and its member firms.
Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 140 countries, Deloitte brings world-class capabilities and deep local expertise to help clients succeed wherever they operate. Deloitte’s approximately 169,000 professionals are committed to becoming the standard of excellence.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.