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Jeffrey Tessler contributes to WEF white paper

21 Jun 2018

Jeffrey Tessler contributes to WEF white paperTwo forces that drive change

Jeffrey Tessler, Member of the Executive Board, Deutsche Börse AG

Ten years ago, the onset of the Global Financial Crisis put an end to the roaring self-confidence of Wall Street and their global likes, and society became painfully aware of how fragile the interconnected financial industry really is. A decade later, markets are on the rebound, but challenges remain – and new ones are on the come-up. A working group, established by the World Economic Forum (WEF), has now published a white paper discussing potential scenarios for the global financial and monetary system in 2030.

The WEF’s Global Future Councils (GFCs) is a knowledge network of over 30 councils with more than 900 members, dedicated to promoting innovative thinking on the future. Jeffrey Tessler, Member of the Executive Board of Deutsche Börse, joined the GFC for “The Future of Financial and Monetary Systems” together with other thought leaders from academia, government, business and civil society in 2017, bringing in the expertise of a market infrastructure provider that creates and sustains transparent and secure markets – Deutsche Börse. The publication of their white paper marks the end of the 18-month tenure of the council.

“It has been an interesting experience to be a part of this working group. The World Economic Forum brings together experts from all over the world, from various backgrounds and industries, and in this set-up challenges conventional thinking, really creating a platform to develop new insights and perspective on key global systems.”

Jeffrey Tessler
Member of the Executive Board, Deutsche Börse AG

 

The white paper “The Global Financial and Monetary System in 2030” explores the current transformational state of the monetary and financial landscape and discusses key drivers of change, associated with the two seemingly opposed forces of decentralisation and integration: regulatory challenges, the transformation of the financial system through digitisation, and current macroeconomic risks. While outlining their vision for the year 2030, the authors conclude that in order to prevent excessive systemic disruption and fragmentation, the international financial architecture will need to adapt already today.

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