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Policy makers must avoid the downside scenario of a major shock to the European and global financial systems. Europe has to mobilize its strengths, and put out the immediate fires associated with the spiraling banking and sovereign debt crisis, said OECD Secretary-General.
Given the systemic dimension and country spill-overs in certain catastrophic risks, the G20 is well suited to play an important role through the exchange of best practices and experiences to address events that, according to our analysis, cost the world economy nearly $350 billion last year.
The economic crisis that started in 2007 gave rise to a crisis of legitimacy and a widespread collapse of trust in markets, in firms, and in the governance of our economies. We need to build up that trust again and the OECD Guidelines for Multinational Enterprises and the OECD Anti-Bribery Convention are essential tools for fighting bribery and promoting responsible corporate behaviour.
Today, management of water resources is one of the major challenges confronting Israel. Accelerated population growth - along with economic growth - has placed additional pressure on Israel's limited water resources but the country is at the forefront of green innovations for water management.&l
The Negev region has the potential to deliver real and tangible benefits for regional development, green growth and social inclusion. The report explains how the region can exploit its existing strenghts and competitive advantages, including a niche in research, demonstration and testing in renewable energies and water efficiency.
In Israel, income inequality has risen substantially over the past three decades, from already high levels. To reverse this trend, policy makers should promote high quality and inclusive education, but also labour-market and social-policy measures.
Strengthening Cybersecurity is becoming “the new comparative advantage”, as companies and customers move to countries with safer and more reliable cyber-frameworks, said Angel Gurría, OECD Secretary-General.
High unemployment, weak public finances, slow and unequal growth overall, these are all challenges that Europe needs to address through decisive action and comprehensive structural reforms to turn into a reality the Dream of a prosperous, vibrant and fair society for all Europeans, said OECD Secretary-General in Brussels.
Though Latin American economies are growing quickly, they must reduce inequality and improve infrastructure and education to maintain the growth trajectory, said OECD Secretary-General at the International Economic Forum on Latin America and the Caribbean organised in Paris.
Welcoming the accession of Russia - a major nuclear power - to the NEA, Angel Gurría said that this signature also provides a strong political signal in the direction of the future OECD membership.