January 28, 2009 / 10:47 AM / 11 years ago

GENEVAE-JAN 28-SWITZERLAND-DAVOS OPENS

 GENEVAE-JAN 28-SWITZERLAND-DAVOS OPENS
 
 REUTERS OFFER 09 FOR EVN 0930GMT
 
 09
 SWITZERLAND DAVOS OPENS
 ORIGIN: GBRVN
 SOURCE: GBRTV
 DAVOS, SWITZERLAND
 JANUARY 28, 2009
 NATURAL WITH ENGLISH SPEECH
 DURATION: 2:00
 RESTRICTIONS:
  
 ==PLEASE NOTE: FULL SHOWS AND SCRIPT TO FOLLOW==
 
 SCRIPT: The world's leading political and financial brains
 tackled the question of how to save an ailing global
 economy on Wednesday (January 28), as the annual World
 Economic Forum began in Davos.
     The gathering in the exclusive Swiss resort is likely
 to be a more sombre affair than in previous years, with a
 chastened business elite sidelined in favour of political
 leaders and financial regulators.
     Entitled 'Shaping the Post-Crisis World', the four-day
 forum will see heads of state, finance ministers, central
 bankers, and business executives in a drive to reboot the
 world economy.
     More than 40 heads of state and government are expected
 to attend -- almost double the number last year.
     About 1,400 business executives will also be in Davos
 but fewer top bankers and captains of industry are expected
 as they struggle to keep their businesses afloat.
     Confidence among leaders of the world's top companies
 meeting in Davos has nosedived to a new low, with recession
 and a worsening credit crisis torpedoing faith in corporate
 prospects, according to an annual PricewaterhouseCoopers
 survey of more than 1,100 CEOs.
    Worldwide, just 21 percent of CEOs said they were very
 confident of growing revenue in the next 12 months, down
 from 50 percent a year ago.
    And hopes for a short recession appear to have
 evaporated.
    Stephen Roach, Morgan Stanley's Asia chairman, agreed
 the next three years would be very tough.
    "We have to face up to the fact that the recovery, when
 it comes later this year or early next year, is going to be
 anaemic. so the image, the concept of a vigourous
 'V-shaped' recovery is for business cycles of the past, not
 for this post-bubble, post-crisis business cycle. It's
 going to be a long slog in 2010 and 2011, positive growth
 in both years but very, very anaemic," she said.
     Worryingly, even this gloomy picture -- with confidence
 the lowest in the survey's seven-year history -- may be
 over-optimistic, given the slew of further bad news since
 it was completed in early December.
     More than 70,000 job cuts were announced on Monday this
 week alone, with Caterpillar Inc axing 20,000 after the
 heavy equipment said it had "pretty much hit a wall in
 December".
      Bankers are thin on the ground this year but
 policymakers will work behind the scenes ahead of a summit
 of the G20 group of big and emerging countries in April and
 a G8 summit in July.
     Russian Prime Minister Vladimir Putin and Chinese
 Premier Wen Jiabao will both address the meeting later on
 Wednesday.
    Brian Gallagher, President of US non-profit group United
 Way Worldwide says the world's leaders need to mobilise
 their countries a solution to the world's financial woes is
 to be found.
     "If we think it's Obama or we think it's Putin, or we
 think it's any individual leader in and of himself, then
 it's a fool's errand. This has got to be everyone pulling
 together, leaders have to give us direction, but they have
 to reach out to consumers and citizens to help make that
 direction real," he said.
     Other delegates warn that economic problems should not
 be allowed to eclipse other key WEF priorities such as
 global poverty and climate change.
     Irene Khan, secretary general of Amnesty International,
 says the world's poorest will suffer most from the crisis.
    She had a string message for the CEOs and banking
 executives attending the forum.
      "Well, clean up your act, open yourself to stronger
 accountability and that means some degree of regulation,
 and be transparent about what you are doing, and recognise
 your responsibility. Apologise for what you've done,
 recognise your responsibility and be accountable," she said.
         While this year's meeting illustrates a shift in
 the balance of power towards governments, political leaders
 in Davos are likely to get a reminder that the crisis also
 threatens their own positions after recent civil unrest in
 several countries.
     While activists have been kept away from Davos itself
 after a demonstration turned violent in 2000, protestors
 have warned of trouble in Geneva after an anti-capitalist
 march planned for Saturday to coincide with Davos was
 banned.
  
 SHOWS:
 DAVOS, SWITZERLAND (JANUARY 28, 2009) (REUTERS - ACCESS ALL)
 1. WIDE OF SNOW-COVERED DAVOS
 2. EXTERIOR OF CONGRESS CENTRE
 3. PEOPLE WALKING TO CONGRESS CENTRE / PULL OUT TO BARBED
 WIRE
 4. FLAGS
 5. DELEGATES WALKING THROUGH SECURITY CHECKPOINT
 6. PEOPLE WALKING PAST FLAGS
 7. POLICE AT GATES
 8. PEOPLE WALKING INTO CONGRESS CENTRE
 9. WORLD ECONOMIC FORUM (WEF) POSTER HANGING INSIDE CENTRE
 / PEOPLE WAITING TO GO THROUGH SECURITY
 10. MAN HANDING IN COAT TO CLOAKROOM
 11. PEOPLE GOING THROUGH SECURITY
 12. WOMAN SHOWING BADGE, ENTERING CONGRESS CENTRE
 
 DAVOS, SWITZERLAND (JANUARY 28, 2009) (ACCESS ALL)
 12. WIDE OF SESSION OF ECONOMIC LEADERS MEETING IN FORUM
 13. VARIOUS OF SESSION
 
 DAVOS, SWITZERLAND (JANUARY 28, 2009) (REUTERS - ACCESS ALL)
 14. STEPHEN ROACH, MORGAN STANLEY ASIAN CHAIRMAN,  SITTING
 IN STUDIO
 15. (SOUNDBITE) (English) STEPHEN ROACH, MORGAN STANLEY
 ASIA CHAIRMAN, SAYING:
     "We have to face up to the fact that the recovery, when
 it comes later this year or early next year, is going to be
 anaemic. so the image, the concept of a vigourous
 'V-shaped' recovery is for business cycles of the past, not
 for this post-bubble, post-crisis business cycle. It's
 going to be a long slog in 2010 and 2011, positive growth
 in both years but very, very anaemic."
 16. DELEGATES IN CONGRESS CENTRE
 17. PEOPLE QUEUING FOR SESSION
 18. MAN LOOKING THROUGH PROGRAMME
 19. DELEGATES WALKING PAST WEF POSTER
 20. (SOUNDBITE) (English) BRIAN GALLAGHER, PRESIDENT OF
 UNITED WAY WORLDWIDE, SAYING:
     "If we think it's Obama or we think it's Putin, or we
 think it's any individual leader in and of himself, then
 it's a fool's errand. This has got to be everyone pulling
 together, leaders have to give us direction, but they have
 to reach out to consumers and citizens to help make that
 direction real."  
 21. IRENE KHAN, SECRETARY GENERAL OF AMNESTY INTERNATIONAL,
 WALKING THROUGH CENTRE
 22. (SOUNDBITE) (English) IRENE KHAN, SECRETARY GENERAL OF
 AMNESTY INTERNATIONAL SAYING:
     "Well, clean up your act, open yourself to stronger
 accountability and that means some degree of regulation,
 and be transparent about what you are doing, and recognise
 your responsibility. Apologise for what you've done,
 recognise your responsibility and be accountable."
 23. DELEGATES LOOKING AT PROGRAMME
 24. DELEGATES IN CONFERENCE CENTRE
 
 
 
  
  

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