Remarks by Angel Gurría, OECD Secretary-General, delivered at the European Business Ethics Forum (EBEF)
Ladies and Gentlemen:
It is a great pleasure to be here with you to open this year’s European Business Ethics Forum. I am very happy to be part of these discussions. Thank you very much for this invitation.
The current global economic crisis is costing the world trillions of dollars, a protracted recession, millions of lost jobs, a huge loss of confidence in financial markets and a reversal in our efforts to curve global poverty. It is the result of the combination of several failures. A failure of business ethics is one of them; one that lies at the epicenter of this financial and economic earthquake.
In the coming months, the rules of the global financial and economic system will be rewritten. The incentives to proper behavior have to be included in those new rules. A new balance between governments and markets will also be established. The crisis will give us the opportunity to build the foundations of a new business culture; more ethical and responsible.
See full Speech.
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