My first day in Mumbai and I’m not inspired at all. I guess the result of the Europe top job appointments haven’t helped: it looks like we were back to centuries ago when royal families decided the future of nations on the basis of arranging the marriages of their offspring. The European Union can be such an untenable cause.
Fortunately I’m far from Old Europe. This is a good break. I spent all day in the hotel doing what I never do: nothing. I must be exhausted by the last few months of hard work and travelling.
I’ve been travelling for the last two months across Europe and, at the same time, have been working on two hallmark projects: reform of the European financial regulation and principles of good governance across the Old Continent. Isn’t it time for rest? At least to learn a lesson: it doesn’t matter how much I work, there is just one unacceptable comprise: missing a session at the gym. it must be like your Sunday mass!
OK, two short paragraphs to keep you updated. I know it’s boring but it’s the duty of European citizens to be informed.
The review of the euroepan financial regulation has been an exciting process. I’ve been able to bring to the table civil society and DG Budget – the equivalent of Treasury of the EC – with the help of DG EAC, the department for culture of the EC. This is the first time the parties listen to each other and together look for solutions. It’s a success but we will see there is all of 2010 to screw up: the changes to make the financial regulation more civil society friendly have to be confirmed in the final text which will be finalized in March. furthermore, the next text has to be approved by the Euroepan Council and Parliament. We are still in the race!
The project on good goverance is pretty crucial as well. Look what happened in the US with the Alavi Foundation. Have you read the papers?
Alavi Foundation is accused of being controlled by the Iranian goverment, which would use it to channel funds from the US to the nuclear national project. Even the Clinton Foundation is somehow involved having received donations by the former. The FBI investigates.
Isn’t this a case of doubtful governance in the sector that vindicates the need for international standards?
When I see how foundations get out with exceptional tax relief despite the total lack of public accountability I wonder if they are the next target of regulators after the hedgefunds? Isn’t it better if the sector tidies up its own room before governments force in a new regulation after a scandal?
Since we like independence and self-regulation we have pushed for a project on good goverance across borders. We have started with a comparison between France and the UK to identify a common ground and lately have extended the project to other countries/regions across Europe. I dare forecast that we can succeed to find a solution for the world if we can find a compromise between the cats and dogs of Europe!
Yeah none of this sounds exciting but ageing I’ve learnt that you make an impact when you budget a good dose of dull work. A lasting impact relies on small changes in the system… rather than a revolution.
I’ve got to go to bed now. I’m still jet-lagged but this week will be busy. I’m here for the World Young Leader Forum organised by the BMW Foundation. BTW, do you know why I have been invited?
Sorry i’m not very inspired this time. Let’s hope for something more entertaining next week. Mumbai is big enough to surprise me!
