Lord Levene Discusses Protectionism, Recession in Bloomberg Interview

Lloyd’s Chairman, Lord Peter Levene, has given his views on protectionism, regulation, recession and tomorrow’s world order in an interview on Bloomberg TV.

He also “assessed the mood of the G20 leaders, saying that politicians showed unity and were sincere in their promises to avoid protectionism.”

In a brief bulletin on the Lloyd’s web site – www.lloyds.com – Levene noted that home events can distract from the rest of the world, and that a wait-and-see attitude is sensible. The results of the current Doha round would be a good indicator of future domestic policy on international trade.

Levene also indicated that regulation needs to be effective, but shouldn’t choke activities. While an overarching framework of goals will be acceptable. He stressed that an “uber regulator” with widespread powers is undesirable.

“The world order has changed,” he stated. “It’s not a small club of a number of countries that were in it for a very long time, you have other countries that are coming in, China and India, who are major players and they are being recognized.”

The complete interview is available on the Lloyd’s web site as noted above.

Source: Lloyd’s

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