We are pleased to present

The Global Issues Forum on The Global Economy

with special guest: Ambassador Peter F. Allgeier, 

U.S. Ambassador to the World Trade Organization

WHEN: Wednesday, 27 May 2009,
18:30 Registration & welcome drink,
19:00 Lecture followed by Q&A
WHERE: Intercontinental Hotel, Geneva
7-9 Chemin du Petit-Saconnex, 1209 Geneva
COST: Registration fee: CHF 25 / Students & unemployed CHF 15
Please register at events@democrats.ch by 25 May 2009.

Speaker Ambassador Peter F. Allgeier serves as Deputy US Trade Representative and U.S. Ambassador to the World Trade Organization (WTO), and is the recipient of the Presidential Distinguished Rank Award, the highest performance honor bestowed on career federal officials.

For further information, contact: events@democrats.ch

About Global Issues Forum

The 21st Century world is a vast interconnected landscape where remote, local issues translate into global challenges. The Global Issues Forum is a new event organized by Democrats Abroad (DA), that aims to engage the community at large in Switzerland on some key modern challenges, and present viable options for future policy. Each event features a guest speaker who will discuss a topic followed by a question and answer session with the audience. Instead of quick sound bites and limited context, Global Issues will offer a platform to attain deeper understanding of complex issues such as: domestic/global economy, the changing energy landscape, transnational terrorism and conflict, and climate change. DA has launched The Global Issues Forum as an opportunity to become informed on some of today’s most pressing issues with the view of broadening engagement.

Geneva Economy Event - May 13 2009

Democrats Abroad Switzerland – Inside the Meltdown Event Recap

Democrats Abroad members Karen and Gregg opened their home to those interested in viewing the PBS FRONTLINE program entitled Inside the Meltdown, which recounted the events leading up to the unprecedented government bail out of the US financial system.

17 people attended the event.  Our hosts provided refreshments and snacks and moderated the discussion following the program.  Gregg had sent out a brief survey or “straw poll” to get participants opinions of the state of the US economy, the outlook for recovery, and the government response.  He compiled and read the results of the survey prior to the program, which gave participants a chance to compare their impressions before and after viewing the film.

After the film, we went around the room and each person gave their impressions of what they saw.  Some people were clearly very angry at the banking system in general, and there was across the board agreement that the former administration’s policy of deregulation and free markets was at the very heart of the problems our economy now faces.  Most participants also agreed that President Obama has helped the economic situation, both from his administration’s decisive actions and through the organized and calm way he has taken control of the situation.

 Issues of concern from those who participated in the discussions:

1.     Why was the cost of war not taken into account as part of this economic failure?

2.     Concern that in Treasury department, all senior staff are cronies. The Treasury is filled with the same people who got us into this mess.

3.     Americans have lived way beyond their means since WWII. The world has foot the bill for America’s lavish lifestyle and excessive consumerism.

4.     Poorly run Wall Street and Treasury department are to blame for the crisis.

5.     The media is also to blame. Media companies are owned by corporate interests and investors.

6.     Banks are more concerned with making money nowadays than offering the service that they were originally meant to provide. Banks should be a service of loans and savings for consumers. The regulatory agencies are to blame for not correcting the directions banks have taken these past years.

7.     Markets cannot self regulate.

8.     Conflict of interest of rating agencies. We propose that the government audits their ratings and in turn “rates” them.

Obama Bridge Photo