Davos participants mull economic crisis
They got it wrong, but this has not put off about 2,500 CEOs and policy-makers from coming here in the hope of catching a glimpse of how the world will evolve.
“I am here to get an idea of where this crisis is going,” said Mario Moretti Polegato, Chairman and founder of Italian “no-sweat” shoe-maker Geox.
People have been coming to Davos since the early 1970s to “feel trends”, said Jean-Pierre Cuoni, chairman of private bank EFG International and a veteran at Davos.
“In 1988-89 you could already feel that Communism was coming to an end. People back home thought this was crazy. But only a year later the Berlin Wall fell,” he said while sipping a drink during a swanky reception at the Belvedere Hotel.
No one expects WEF participants to pull a solution to the crisis out of the hat in just a few days of discussions, but many feel the forum continues to be a great place to exchange ideas.
“The forum is needed now and these days more than ever,” Swiss President Hans-Rudolf Merz said as he addressed the forum on Wednesday.