The World Economic Forum, just down the road from us in Davos, began last week with a blast a blast from Mother Nature as we had the worst snows in 66 years. Good for skiers, but bad for the Occupy protesters who tried to disrupt the event.
Highlights from the conference:
- David Cameron, British prime minister, said the Greek situation needed to be resolved, banks recapitalized and an agreement reached on a new bailout fund for troubled Euro-zone countries. A tall order for 2012.
- Jamie Dimon of JP Morgan said he felt that the $400 Bn in Greek debt that might default wouldnt actually impact American banks. Good news for the U.S. economy.
- Tim Geitner said it is realistic for the U.S. economy to grow about 2 percent to 3 percent. Biggest risks Europe debt and Iranian oil.
- Haruhiko Kuroda, President of Asian Development Bank, predicted that China will continue to lead Asia's growth in 2012, at 8%, followed by India at between 7-8% and Indonesia at around 6.5%.
Nothing here that should stand in the way of a banner year for tech M&A in 2012.