It seems that other countries are seeing the risk in allowing national bailouts to be used, not for unfreezing credit markets, but for high-stakes mergers, dividends, bonuses, and other business-as-usual activities.
Yesterday, French president Nicolas Sarkozy called the nations bankers in a room and essentially started screaming warnings not to do likewise. Actually, quite amusingly clear, forceful language from a head of state.
Highlights:
“Bankers have signed a moral pact with the nation.”
“[To the media] When you see something that looks wrong…SAY SO!”
It’s interesting how much of the future of business seems to ride on our reactions to this crisis. In addition to trend analysis, we constantly recommend actor analysis, the examination of the motivation and decision making processes of major players in any industry or system.
France appears to be reacting to the meltdowns in other parts of the world economy and sticking with a slightly slower, much more disciplined interaction between the state and private industry. And their head of state is making this a moral argument, a sacred trust between individuals and institutions.
What about other countries? We’ll be watching.
This is the official trend blog of Competitive Futures, a management consultancy that provides trend research and analysis for business and government around the world. Here, we update you on interesting trends we see as part of our work for our clients.
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