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DOW JONES     Dominique Strauss-Kahn luxembourg conference june,2 2014 , Leyne Strauss-Kahn and Partners (Hedge21)

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Hedge21     posted : 02/06/14   10:57 pm


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Hedge21     posted : 02/06/14   10:57 pm


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Hedge21     posted : 02/06/14   10:57 pm


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Hedge21     posted : 02/06/14   11:28 pm

First, I want to reiterate that I am in not a journalist that it is why there is a chance that I am more objective.
the conference ended one hour ago , I write it very quickly with my iphone so please forgive my style, my syntax and my spelling.

DSK enters the room as scheduled at 18:30 , I was impressed first by the physical DSK who, despite his size and age, remains a charisma.
He reminded that despite his age, he decided to have a new challenge as a Businessman , even more interesting than supervision.
To answer the question of the primacy of politics over economics or vice versa, he decided to cut his argument into two parts : Theory and practice.
He showed through examples of the creation of Israel (which is close to his heart) decolonization , European Union, end of apartheid ,end of USSR that all these movements were political choice against economic decision ( even more regarding German reunification)
Policy prevails over economic example Ukraine and its revolution.

However, the problems are global while the instruments are national.
Instruments and global decision has been take only once in the History : the subprime crisis which provoked a G20 in 2009) because states and System were afraid. According to him : "Fear it helps "

According to him , international cooperation must go beyond this crisis and in all areas . Between the line should read a global worldwide government with one currency ( remember DSK worked to simplify the special drawing rights (SDR ) at a level that tomorrow it will be possible to switch to this system.
He also focused that the politician were stupid in Deauville : guarantee past debtholders of Greek and prevent future debtholder that next crisis states will guarantee nothing , thus destroying the trust system . They should do the opposite to safe the confidence on the system

In practice now : Nowadays , due to umemploment problem and stagflation ,economy issue prevailed over politics. Due to current failure of politics in europe, economic sphere considers that it is necessary to prevent politics meddling in the economy.
Thus , the political decided but underpression of economics.
Thus, a states should have an economic power such as China, the USA , to have a political power , so the eco wins…

according to him, the Europe experience a special moment since the French revolution which will impact the future 30-40 years . In the past, France and the United kingdom had to keep the technical progress (previously the technology was shared , guns gunpowder medicine ) , thanks to their selfishness , these two countries have dominated the world no technology was shared ( eg only 30,000 British soldiers defend 50% of Africa and Asia, and the rest by other 40000 french soldier ) .

But everything has changed, emerging countries also acquire this technology and western lose their benefits and pensions disappear.
The West lived because they do not give to others.
Finally today the power and strength is based on the population number…, technology is shared to everyone.

According to him, this movement is unstoppable , can not be prevented by politics.
DSK think that " to be a good politics, he must understand the economy , which was not the case before .
But on the other hand , understanding of geopolitical problem should be understood by economists. "
One example that he gave without developing» Ukraine change will have an impact beyond the energy. He regretted that Western do anything against Putin)

Conclusion : We must hold both the end of the string + economic policy (nothing extraordinary as a conclusion to my mind ) .

blabla and Questions:
"He Support Thomas Pikkety book. He confirm that one the problem of last decade 1% of people (rich) took 90% of growth more than rest of people . ( Bad distribution of growth ) We Had a balance of growth and in didtribution This balance explode in 90 's. "

He strongly believes in Europe and convergence, but not a convergence to the most stupid or the most restrictive ( taxes rules ... ) countries.

" I dont want to Kill the system or model, I dont have other mod

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