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Global Finance Towards a New Global Reference Currency / Part 1

July 21, 2012

This is the complete audio (Part 1 and Part 2) of the Workshop B1 : Global Finance Towards a New Global Reference Currency held at the Global Ethics Forum 2012 on the 29th of June 2012, International Conference Center Geneva, Geneva, Switzerland.

The financial crisis, the debt crisis, the Euro crisis and imbalances in currency exchange rates between the North and South show the need for a new currency system. What will the currency system be “after the dollar”?

  • What could be a fair global reference currency, not dominated by one dominant economy?
  • What are the political obstacles, the models and strategies to get political support for it?

Moderator: Jem Bendell, Prof, Director Lifeworth Consulting Australia/Switzerland

  • Presentation of Results and Recommendations of the project workgroup (by the moderator): Thomas Myers, certified public accountant, banking expert who has testified widely on subprime securities fraud, USA
  • Luc Guillory, President of Share France – Partage International, France
  • Myret Zaki, Deputy Editor in Chief of the magazine “Bilan”, Switzerland
  • Chong Zhang, Financial Expert, Director Generis Capital in China, China

Further documentation is available here.

Geneva. There is an urgent need to move away from the dollar as the world's reserve currency, in light of the financial meltdown marked by banking abuse and the ballooning US deficit, the 2012 Global Ethics Forum in Geneva has urged.

"Ethics in finance based on sustainability and justice needs a new reserve currency system," said Christoph Stückelberger, Executive Director and Founder of Globethics.net, a global network that promotes dialogue and research on ethics and values, and the organizer of the 28-30 June Forum.

"A global balanced reserve currency system must reflect the multipolar world and cannot be based on one national currency," said Stückelberger, a professor of ethics.

Experts on finance and business ethics attending the Forum warned of the consequences of maintaining the US dollar as the world reserve currency.

Click here to read the full media release.

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