The Economy 2012

07 Nov 2012

Organised by: Swiss Re Centre for Global Dialogue


The Swiss Re Centre for Global Dialogue held its annual state-of-the economy event on 7 November 2012. It was the day after the US re-elected Barack Obama as president. The Dow Jones industrial average closed down about 313 points, or 2.4% that day as investors reacted negatively over the defeat of the more business-friendly Mitt Romney and concerns that US lawmakers would not act to avert the fiscal cliff. The latter concern being that if a compromise is not reached by 31 December 2012, USD 500m in tax cuts will expire and USD100m in automatic Federal spending cuts will kick in. Failure to act would trigger a recession in 2013, according to the Congressional Budget Office.

It was not just the news from the US that was troubling. That same day, European Central Bank President Mario Draghi expressed concerns about the outlook for Europe's economies, especially Germany. In addition, China was about to undergo a leadership change that has the potential to reshape the top ranks of its government and the ruling Communist Party.

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Welcome and introduction

Rick Perdian, Senior Business Development Manager, Swiss Re


  • Geoffrey Bell, President, Geoffrey Bell & Company Inc and Executive Secretary, Group of Thirty
  • Dr Michael Heise, Chief Economist and Head of Corporate Development, Allianz SE
  • Dr Kurt Karl, Chief Economist and Head Economic Research & Consulting, Swiss Re


Panel discussion

    Moderated by Rick Perdian, Senior Business Development Manager, Swiss Re


Networking and refreshments

This event may be broadcasted live, photographed, videotaped, filmed and/or recorded. A summary of the event, pictures and/or a video of the event in which you may appear may be posted and made available on Swiss Re’s and the Swiss Re Centre for Global Dialogue’s internal and external websites and in printed materials.