The above statement illustrates the dramatic situation in the financial markets where no one, no one at all, has any control. This is what we face daily in our strategic intelligence practices. We provide some insight as to why we cannot rely on the financial system, or on presidents, prime ministers, politicians or central bankers.
This statement demonstrates a potential problem. One example is that of the European Central Bank (ECB), with their new headquarters in Frankfurt, financed with even more debt in a financial world led by overconfidence and exuberance. The eurozone has been in a slow-motion crisis for some 7-8 and no one seems to be in charge: neither Draghi, Merkel, Tusk, Juncker or anyone else. The ECB doesn’t stand for anything but improvisation.
A short story: “It is July 2015 on the shores of the Mediterranean. Times are tough, everyone is in debt and everyone lives on credit. Suddenly a rich tourist comes to town; he enters a hotel and puts a € 100 note on the reception counter to inspect some of the upstairs rooms for that evening. The hotel owner takes the € 100 note and runs to the butcher to pay his debt. The butcher takes the € 100 note and runs to the supplier of feed and fuel to pay his debt.
Trust in society is under huge pressure. We can see some extremely negative developments which are out of the control of our politicians, who unfortunately do not have the courage to take the necessary tough decisions.