Part 7 switzerland - forum nexus finance class summer 2011
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The document discusses international finance concepts including the "pyramid of promises", fixed vs. flexible exchange rates, and the size of the global financial system. It notes that the modern financial system represents a pyramid of promises totaling $140 trillion in 2005, with the US holding $52 trillion in promises. It describes how exchange rate systems have historically shifted between fixed and flexible regimes and explains some of the tradeoffs between the two approaches.
![Brian David Butler Professor of international finance and global entrepreneurship with Forum-Nexus Study Abroad. Guest lecturer with the IQS Business School of the Ramon Llull University in Barcelona, and the Catholic University of Milan . Previously, Brian taught finance, economics and global trade courses at Thunderbird’s Global MBA program in Miami, and worked as a research analyst with the Columbia Business School in New York City. Brian currently lives in Recife, Brazil where he is teaching classes on “Global Entrepreneurship” at the university FBV. A global citizen, Brian was born in Canada, raised in Switzerland (where he attended international British school), educated through university in the U.S., started his career with a Japanese company, moved to New York to work as an analyst, married a Brazilian, and has traveled extensively in Latin America, Asia, Europe and North America. [email_address] LinkedIn/briandbutler Skype: briandbutler](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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Part 7 switzerland - forum nexus finance class summer 2011
- 1. Forum-Nexus Welcome to Switzerland!!
- 2. Brian David Butler Professor of international finance and global entrepreneurship with Forum-Nexus Study Abroad. Guest lecturer with the IQS Business School of the Ramon Llull University in Barcelona, and the Catholic University of Milan . Previously, Brian taught finance, economics and global trade courses at Thunderbird’s Global MBA program in Miami, and worked as a research analyst with the Columbia Business School in New York City. Brian currently lives in Recife, Brazil where he is teaching classes on “Global Entrepreneurship” at the university FBV. A global citizen, Brian was born in Canada, raised in Switzerland (where he attended international British school), educated through university in the U.S., started his career with a Japanese company, moved to New York to work as an analyst, married a Brazilian, and has traveled extensively in Latin America, Asia, Europe and North America. [email_address] LinkedIn/briandbutler Skype: briandbutler
- 14. PIMCO CEO Mohamed El-Erian Response: “Almost all independent observers of Greece have stressed from the beginning that Greece was facing a solvency , not a liquidity problem. This was also the case 10 years ago with Argentina; a country that had achieved financial stability by entering into a “quasi” monetary union using the US dollar and which had privatised every available public asset.
- 15. PIMCO CEO Mohamed El-Erian “ the Greek government is losing control of the streets. As protests turn increasingly ugly, the pursuit of a national political consensus becomes even more elusive. This is especially true if all Mr Papandreou, or another leader, can offer is a step back to a discredited approach that involves sacrifices with no evidence of lasting benefits.”
- 18. Credit bubble led to housing bubble, led to bust… http://www.abc.net.au/reslib/200802/r220644_867185.jpg
- 27. International Finance Pyramid of promises
- 36. Size of Finance… Martin Wolf, “Fixing Global Finance”… based on McKinsey “Mapping Global Capital Markets”, 2005
- 37. Size of Finance… Martin Wolf, “Fixing Global Finance”… based on McKinsey “Mapping Global Capital Markets”, 2005
- 38. Martin Wolf, “Fixing Global Finance”… based on McKinsey “Mapping Global Capital Markets”, 2005
- 39. Size of Finance… Martin Wolf, “Fixing Global Finance”… based on McKinsey “Mapping Global Capital Markets”, 2005
- 43. Fixed, Floating FX discussion…
- 45. Exchange Rate Options Official Dollarization Currency Board Free Float Peg More Flexible Less Flexible Crawling Peg Band Dirty Float Source: Rafael Barraza Dr. Kishore Dash, January 20, 2007