The US Secretary of State, Hillary Clinton, first coined the term “Indo-Pacific” officially in October 2010, in Honolulu, in a geopolitical sense, to elucidate developments in the Asia Pacific region. Her husband, former President Bill Clinton, on one of his innumerable trips to Africa, declared and I quote “We are living in the most interdependent time in history. The evidence is all around us.
Opinions are divided, however, on the issue of how to categorise the difficulties facing the European banking sector, and how to solve them. Broadly speaking, there are two positions. One side argues that banks and savings banks must radically alter their business models in order to cope with future, choppier waters: digitalisation, a low-interest-rate environment, an unstable global economy and demographic change.