Welcome to ACCA's first blog on the global economy. I am Paul Moxey, ACCA's Head of Corporate Governance and Risk Management. This blog will be our regular take on the challenges facing our global economy. We used to call the current turmoil a 'credit crisis' but it is clear that the problems are now more fundamental and are no longer limited to credit or liquidity.
Perhaps the most acute problem facing us all is a lack of confidence. Franklin Roosevelt said in 1933 in his first inaugural address 'the only thing we have to fear is fear itself'. ACCA wants to play its part in dispelling fear and contributing much needed confidence by focussing on addressing the challenges of the current economic problems - hence the title of this site 'The Global economy: addressing the challenges'.
I believe that we can help restore confidence through information. Some may think that it is better not to know what is going on and hope for the best, there have been times when people have wanted to shoot messengers. But there is no point burying heads in the sand. We should remain optimistic but people have a right to know what is happening to our economy. We recognise however that there remains some lack of consensus about what has caused the present problems and a still wider lack of consensus about what to do with about them.
It may be sometime before everyone agrees on the causes of present problems and longer before general agreement on the solutions. This site is therefore dedicated to providing information and material that is objective, unbiased and fair. We shall not however be afraid of controversy, there are many strongly opposing views and it is right they be aired provided it is the spirit of seeking to improve understanding and inform rather than to misinform or obfuscate.
The site is intended mainly for ACCA members but everyone is welcome to use the material and contribute to discussion. In other parts of this site, you will find many sources of information: analysis and publications; strategy; past and future events, career development and news. You will find a number of ACCA and other publications about the current financial turmoil and details of past and future ACCA events on the subject. There is also a dedicated discussion space on ACCA Discuss: I invite you to contribute to discussion and to comment on these blogs. From time to time we will welcome a guest blogger. Our first guest will be Alan Craft, a retired senior banker and now a director of Craft Financial Advice.
oh..it's great.
Posted by: Sam Art | 29 January 2009 at 08:31