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Speeches / Presentations
M. Gurría stated that the main policy challenge for the Slovak Republic is to sustain high trend growth while adjusting to life in the euro area. This requires structural reforms in the areas of labour and product markets, fiscal policy and in the housing sector.
At a meeting with Slovak Economists, Mr. Gurría underlined that the OECD has developed a strategic response to deal with the current situation, while at the same time addressing the interaction between different policy actions in our economies.
At the World Economic Forum in Davos, Mr. Gurría presented the OECD strategic response to the financial and economic crisis which provides elements and analytical tools to help governments redesign and restart the financial system, but also a comprehensive strategy to put the global economy back on a sustained growth trajectory.
Angel Gurría shares his views about issues on the 2009 Davos agenda. Beyond short-term expediency, politicians must figure out how to set a long-term course for the global economy. Along with more effective regulation, we need fairer social policies and an end to the bottlenecks that block competition and innovation and hamper sustainable growth. We must also find ways for governments to exit from their massive emergency interventions
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This overview paper examines the financial crisis in light of past country experience and economic theory and draws preliminary policy recommendations.
Mr. Gurría underlined that business ethics should be at the center of any new road-map for the global economy. Markets should not only be more stable, but morally acceptable as well. He said that it is time to reunite ethics and economics through a solid, transparent and updated set of rules.
The crisis has shown the vulnerability of a global economy based on the idea that ever increasing production and consumption were the key to success, says OECD Secretary-General Angel Gurría.
According to Mr. Gurría, the first decade of Economic and Monetary Union (EMU) has been a success, but the onset of recession amid ongoing financial turmoil has created new challenges for monetary and fiscal policy implementation, liquidity management and the regulation and supervision of European financial institutions.
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OECD Chief Economist, Klaus Schmidt-Hebbel's presentation on 18 November, 2008 at the OECD-World Bank joint conference on innovation and sustainable growth in a globalized world.
As the financial crisis deepens and spreads, a decisive policy action is needed to restore confidence and restart the flow of credit, according to Mr.Gurría.