Page 57 - Monaco Economy 128

MEB: «The situation will remain very complicated in Europe»

Invited by the Monaco Economic Board , Jean-Pierre Petit, President of LCV Research (Cahiers
*
Verts de l’Économie), analysed the global economic situation and called for caution in investment
choices in 2024.
By Milena Radoman

and 4.2% in 2024), weighed down by excess The B2B Rendez-vous
capacity and a struggling real estate sector. More than 320 business leaders
and a host of VIPs attended the
What is the outlook for stock market returns? 46 Rendezvous for Members of
th
investment consultancy specialist Jean- the Monaco Economic Board (MEB)
Pierre Petit gave his advice on the prospects held on 19 September at the Yacht
to be favoured and adopted in the short to Club de Monaco, in the presence of
medium term, with a focus on the stock
© MEB / Sébastien Darrasse market, corporate bonds, money market and of the National Council, and the new
Brigitte Boccone Pagès, President
commodities. "We need to be cautious in our
French Ambassador to Monaco, Jean
investment choices", he reminded us, wary
D'Haussonville. This event was unlike
stock market returns, even if the trend is likely
Jean-Pierre Petit, Président des Cahiers de Verts de of the prevailing optimism in the outlook for any other, as it was preceded by a
session of individual meetings. Spread
l’Économie / President of LCV Research
to remain favourable. Finally, in his opinion, over 26 numbered tables with timers,
"artificial intelligence - which is very much in more than a hundred meetings took
Rising extremism, inequality, climate shocks... vogue - adds nothing in terms of diversification place with 93 representatives from 70
Faced with the various global threats, compared to tech in general". MEB member companies. Each year,
economist Jean-Pierre Petit could hardly Following on from this conference, the MEB one of the four members' sessions
paint an optimistic picture of the international is due to welcome Ludovic Subran, Chief focuses on these B2B meetings. "The
economic situation before the Principality's Economist of the Allianz Group, in October to MEB's permanent team is dedicated to
120 decision-makers gathered by the Monaco enable Monegasque entrepreneurs to better a single goal: helping you to develop
Economic Board in mid-September. While anticipate their strategy for the months ahead. your business", C.E.O. Guillaume Rose
the American economy can count on rising The theme is: "How should we prepare for the reminded the business leaders present.
productivity, controlled inflation and GDP second Cold War?" “For us, not one of you is 'small', no
growth estimated at 2.2% in 2023 (1.1% in one amongst you is unimportant, you
2024), the unpredictability of the upcoming *in partnership with Jutheau Husson. are all equal in our determination to
** In an interview with Monaco Info.
2024 presidential election is a real source help you succeed". It remains to be
of concern. As for Europe, Jean-Pierre Petit seen how many deals were done as a
is of the opinion that it is undoubtedly the result of these networking activities. In
continent most handicapped by the crises any case, according to the satisfaction
that are shaking the world, starting with the survey carried out afterwards, 100% of
war in Ukraine, which is having a more direct respondents recommended attending
impact on Eurozone countries, with inflation this session...
set to fall more slowly. Among the "vectors for
improvement", the President of LCV Research
lists "disinflation, which will allow financial
markets to breathe". However, "the situation in
Europe will remain very complicated and slow.
The Eurozone's leading economy, Germany, is
in greater difficulty than the other countries.
All the dogmas of Angela Merkel's politics are
now being called into question by the economic © MEB / Sébastien Darrasse
and geopolitical transformation of the world",
observes the economist , who believes that
**
Europe is nevertheless adapting and resisting, De g à d : Guillaume Rose, Directeur Général Exécutif du
thanks in particular to Italy and France. "Good MEB ; Jean-Pierre Petit, Président des Cahiers de Verts de
l’Économie ; Hervé Husson, Président de Jutheau Husson
news for Monaco...". In Asia, Jean-Pierre Petit From l to r: Guillaume Rose, C.E.O. of MEB; Jean-Pierre
is betting on the continued rise of India, ahead Petit, President of LCV Research; Hervé Husson, President
of China (a growth forecast of 5.5% in 2023 of Jutheau Husson

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