State of the European Market
- by Wharton Magazine
This is the first of three parts of highlights from the Wharton Global Conversations London stop. It features Wharton Dean Geoffrey Garrett and Wharton alumni Managing Director of Credit Suisse Marisa Drew WG92 and Co-Founder and President of Anchorage Advisors LLC Tony Davis G97 WG97.
This segment focuses on the strength of the euro and what the future of the currency looks like. Popular outlooks are still downcast. It is the first time since the Industrial Revolution, Garrett observed, that the current generation believes that they will not be better off than their parents.
Watch highlights as Dean Geoffrey Garrett and Wharton alumni discussed the state of the European markets.
Both Drew and Davis offered excellent insight into the state of the European market, as well as the factors currently influencing it and likely to shape it in the decades to come. In discussing the concept of innovation in European business, for instance, Drew tells an anecdote of a friend’s son who, upon switching from the British to the American school system, was “frozen” by calls for creativity from an American teacher.
“There has to be a shift” in the way Europeans treat creativity, Drew stated, if the market is to pick back up and continue with innovative solutions to problems. She also speaks of her faith in human ingenuity and the onus she believes is on the private sector to step forward in solving global problems.
Finally, the three panelists further explored the question of Germany’s seemingly “loner” status, as in, its relative prosperity to the rest of the European Union. Garrett wondered if the nation is doing well because of the euro going down, “insatiable” Chinese demand or real innovation? Davis argued for both Germany’s top-notch creative spirit and technical skill he has seen in his own companies.
The Global Conversations Tour is a chance for Dean Garrett to share his vision for the School, and lead thought-provoking dialogue with alumni worldwide.
Connect with us: For additional information about the Global Conversations Tour and registration for upcoming visits from the Wharton dean, visit the Global Conversations Tour website.