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Slits, Vincent
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5 articles of this author have been cited in the European Press Review so far.
Belgian state deficit must soon be balanced
The daily La Libre Belgique devotes its leading article to the need for balancing the Belgian state deficit in the years to come: "The hunt for bilions has begun. And as in the hunt for butterflies, Prime Minister Herman Van Rompuy's government will need to be nimble on its feet to rustle up these celebrated billions. The target: to balance by 2015 a state deficit that has grown with the crisis and which will weigh heavily on future generations if no courageous - and hence potentially unpopular - measures are taken. The task is delicate and voter-sensitive, because it effects the taxation system and consequently citizens' buying power. ... It's a complex equation: a point of equilibrium must be found that does not prevent growth while furthering social justice."
» full article (external link, French)
More from the press review on the subject » Domestic Policy, » Fiscal Policy, » Belgium
Dominique Strauss-Kahn about to update the IMF
Vincent Slits considers that "for the past few years, the IMF has, like the World Bank in fact, been going through a deep existential crisis of legitimacy, loss of influence and bad governance. ... DSK will thus have to modernise the IMF, bring it into the 21st century and rethink its missions according to current evolutions. He should also force Americans who supported his candidacy, though he owes them nothing in exchange, to finally consider fundamental reforms. This is a delicate mission as Uncle Sam has the ultimate weapon for blocking any wind of change: veto power. The current financial crisis, the inexorable fall of the American dollar and the Chinese yuan could provide an opportunity to put the IMF back in the heart of debates and action. So is DSK be the craftsman for change and straight talk? We will soon find out."
» full article (external link, French)
More from the press review on the subject » International Relations, » Financial Markets, » Global
Banks
The editorialist Bernard Slits is surprised by the wave of panic washing over the markets. "Is this as case of irrationality, of mass hysteria or primal fear? Only the future will tell, but what is striking right now is the inability of the planet's big bankers, notably America's Federal Reserve and it's European equivalent (ECB) to find the words and gestures necessary to appease anxiety. Today, markets are literally laying down the law. There are no bumpers or shock absorbers for the bumps and the growing influence of investment funds will not reverse the tendency. The crisis in confidence appears to be deep, structural. ... There is however no great danger for global growth and no reason to think that the stock exchange will not remain an attractive option in the long term, so long is we make it through the tremors, even the most difficult."
» full article (external link, French)
More from the press review on the subject » EU Policy, » Consumers, » Europe, » North America
The path opened by Muhammad Yunus
The editorialist Vincent Slits salutes the awarding of the 2006 Nobel Peace Prize to the Bangladeshi Yunus, "he who is nick-named in his country, which is one of the most destitute on the planet, the 'banker of the poor' and the 'hope lender'. ... What is his big idea? The creation of the Grameen bank (the village bank) that has become the first bank in the world to practice micro-credit that is destined for insolvent people excluded by definition from the traditional banking system. ... This is nothing angelic, however. No matter how remarkable it may be, the Nobel Prize winner's method obviously remains marginal before the scope of the economic unbalance of a planet that still leaves a growing number of its tenants by the wayside. But serves as an example, a source of inspiration and contributes to making mentalities evolve, in the north as much as in the South."
» to the homepage (external link, La Libre Belgique)
More from the press review on the subject » Social movements, » Consumers, » Global
Eurotunnel gets a reprieve
Journalist Vincent Slits tries to establish who is responsible for Eurotunnel's financial failure. "Why has such a visionary project, one which so aptly symbolised European know-how, resulted in a veritable financial Waterloo? Who is to blame? Clearly, the responsibilty is widely spread. But one thing is certain: small shareholders, who represent 70% of Eurotunnel's shareholding equity, are the big losers here. ... So, have the small French, Belgian and European investors been purposely hoodwinked? Deceived by distorted, excessively optimistic - indeed, downright fanciful - information that also over-estimated the revenue outlook (weren't they told, after all, that Eurotunnel would handle all cross-Channel traffic!) And was the whole caboodle not 'sold' to the shareholder by financial intermediaries well versed in eye-catching marketing campaigns, who minimised the risks?"
» to the homepage (external link, La Libre Belgique)
More from the press review on the subject » Corporations, » Europe
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