The implications of the financial- economic crisis for the financial services industry Presentation: Globalaw Americas Regional meeting Hotel Hyatt Regency.

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Presentation transcript:

The implications of the financial- economic crisis for the financial services industry Presentation: Globalaw Americas Regional meeting Hotel Hyatt Regency Curacao June 11 th, 2010 Drs. A.G. Romero Executive director Bank van de Nederlandse Antillen

 Challenges for the local financial sector. ◦ GDP growth 1% ◦ Unemployment rate drops to 10%  World economic and financial environment. ◦ World Economic outlook ◦ Performance selected countries ◦ Dow Jones industrial avg. New York ◦ AEX Amsterdam ◦ Euro dollar exchange rate

 Financial services represent 16% of the economy  16% employment created in the sector  Average of 11% foreign exchange earnings

 Adherence to budgetary norms and corporate governance rules  Maintaining the financial services industry flexible and transparent  Transparency and information exchange standards  Reduction corporate tax rates  Flexiblisation of labor market laws

China

USA

Greece

Portugal

Italy

Spain

Euro – dollar exchange rate Q – Q2 2010

Gold World spot prices (in USD)

AEX index Amsterdam Q Q2 2010

AEX Amsterdam Q Q2 2010

Dow Jones Industrial Avg. (New York) Q Q2 2010

Dow Jones Industrial Avg Q Q2 2010