The European-American Chamber of Commerce in the U.S. presented a European-American Economic Forum on Wednesday, March 7th, 2012 at the Union League Club in NYC. The topic discussed was "Currencies, Credit Ratings and the Crisis: Facing the Power of the Markets" and featured a panel discussion moderated by Justin Fox, Editorial Director of Harvard Business Review.
The panel featured John Chambers, Managing Director of Standard & Poor's Sovereign Ratings; Alberto Cribiore, Vice Chairman of Citibank; Yves-Andre Istel, Senior Partner of Rothschild Global Financial Advisory; Jared Marks, Principal of Taconic Capital Advisors, LP; and Dietmar Rieg, General Manager of Bayern LB New York Branch.
The focus of the conversation was the sovereign debt crisis facing the European Union and necessary measures required to preserve the union. Mr. Chambers referenced an interesting story from the early days of this country, when Alexander Hamilton and Thomas Jefferson met over dinner in NYC to discuss the structure of a central bank. Chambers felt that the subsequent creation of the Federal Reserve system allowed our country to proceed on the path to economic prosperity and that similar controls are required in Europe.
The luncheon was attended by over 125 participants.