In particular, Banco de Portugal asked BES to identify and duly quantify the various contagion channels to BES Group based on multiple contingency scenarios and including any impact arising from customers common to the two arms of GES (BES and GES’s non-financial arm).
Many smaller countries in Eastern Europe, Asia and Sub-Saharan Africa have become more integrated into the world economy, and – as a result – have been able to increase the welfare of their citizens. In many ways this conference is dedicated to discussing the results of this global shift of the balance of economic activity.