What will be the hottest topic at this week’s World Economic Forum in Davos? The Algerian hostage crisis or the global “bonds-into-equities” swap? The latest horrors from Syria or the prospects of a British EU exit?
There will be heated debates aplenty when the annual Swiss mountain gab-fest convenes on Thursday, on a head-spinning array of topics. It strikes me, though, that year after year, there’s one overarching issue that simply won’t go away.
“There is the quiet, but unmistakable, sound of a leaf being turned”. So said Andrew Haldane last week, the Bank of England’s youthful Executive Director for Financial Stability.
Haldane was speaking at an event hosted in central London by Occupy. The recently-formed protest group, which operates in several countries, is best known in the UK for establishing a protest camp at St Paul’s Cathedral. As such, some have looked down their nose at Haldane for making such a speech, accusing him of posturing and playing to the gallery.