Yesterday I lamented the dearth of optimism regarding the global economy, in spite of the fact that several emerging markets are having a relatively good crisis.
Alas, analysts at Moody's have disregarded my plea.
The weekend in Copenhagen was characterized by a plunging thermometer outside - forcing demonstrators to wrap up ever warmer on the streets of the city. Inside the Bella Center, a whole new set of people have arrived, just as negotiations enter into in a fragile state. The second week is VIP week, and so we add around 200 limousines to the general melee.
But there is good news: huddled in various hotels and echoing "offices" in the delegation portakabins, national actions are being readied irrespective in some ways of the agreement reached.
So now the drama really starts ratcheting up inside and out of the
Bella Center in Copenhagen. Outside in the kind of biting cold that
reminds you of standing (before stadium seating) in a fourth division
football match on a Saturday afternoon as a kid, thousands of people
are massing to march on the center - they say 50,000 and on the TV
screen it looks like it could be.
Inside, the entrenched positions see no sign of budging yet and the
negotiations are poised for the second week, normally characterized by
A strange day in Copenhagen today. More and more people arriving and the building and the incredibly generous and helpful Danes straining to cope. The Bella Center beginning to look like a scene from a science fiction movie where the whole of humanity takes off from earth into some kind of space vehicle. The rumor, counter rumor, the side shows, the side events, the spontaneous demonstrations in the corridors, the more planned but no less emotional demonstrations by delegations in the plenary and working groups: is there life outside?
Like many of my World Bank colleagues, I begin each day by quickly flipping through the pages of the Financial Times. Many of the ideas I come up with for the blog can be traced back to events and ideas I come across in the FT. However, there is one section that consistently fails to inspire my work, until now...
December 9th is the UN's official anti-corruption day, and in order to celebrate, PSD blog has been working with t