For five years, the Mediterranean Institute and the Circle of the Economists combined their efforts to claim a further economic integration of the countries of the South and North of the Mediterranean.  This is why they had estimated the surplus of annual growth tied to this stronger relationship between countries, to approximately 1% per year for the countries of the South and 0.3% for those of the North. This would require open codes of investment of liberalization of the markets and in particular of the agricultural markets and services. They had also expressed their wish to see creating a specific financial institution intended to favour the transfers of funds.

Today, conscious of the global economic situation and concerned to see it deteriorate in the years 2010 – 2011, they underline the major impact that this shock could have on the Mediterranean countries. These difficulties were highlighted in the latest report of FEMISE.  Although growth continues in a certain number of countries of the South Mediterranean, but at a much lower level than previous years. This deterioration plays a fundamental role on the intervention capabilities of different factors, including central banks, endangering at the same time in the long term the solvency of certain Sovereign states, the employment markets and policies against poverty.  All this would obviously not be without the risk for a social and political equilibrium in the Region.

Within this logic, the Mediterranean Institute and the Circle of Economists stress the absolute necessity to finally implement regional Mediterranean policies. The priority is simple: to establish a vast market allowing to balance at much higher levels than those nowadays, supply and demand of goods and services.  This requires to cross in a significant way a decisive stage in monetary integration.  Beyond the existent, it is necessary to promote the establishment of stable exchange rates between main currencies of the region, mainly around the euro; this passes by the establishment of an institutionalized device which allows making use of solidarity between central banks of the region. These devices can take various forms but must in the long term consolidate a monetary zone to promote regional exchanges.

The Mediterranean Institute and the Circle of Economists also remind their wish to see the creation of a Mediterranean Development Bank which, alone, would allow to bring a true answer to the problems of financing of the economies particularly of SMEs, essential gateway for job creation.

The fourth edition of the Mediterranean Economic Week will take place from November 29 to December 4, 2010, in Marseille (France).

Following the huge success of the previous years, this fourth edition, with many key meetings, will tackle sustainable economic development and its components such as:  local and regional planning, new economic activities, sustainable buildings, Ecocities, governance, innovation and development of Mediterranean startups. From strategic thinking to operational partnerships, a series of conferences, workshops and B/B meetings are organised to boost business and investment in the Mediterranean.

The Mediterranean Economic Week is organised by the Provence-Alpes-Côte-d’Azur Region, the City of Marseille, the Marseille Provence Métropole Urban Community, the Euroméditerranée Urban Development Agency and the Marseille Provence Chamber of Commerce with the support of the French Ministry of Foreign and European Affairs.

Register on line to the various events of the edition 2010.

Contact :

ANIMA Investment Network

Aurore Sun
Tél : +33 (0)4 91 55 48 13
Mob : +33 (0)6  19 80 42 67

Catherine Simo
Tél : +33 (0)4 96 11 18 16

The basic idea is that since 1995 a North-South agreement tries to make emerge the great Euro Mediterranean region as a zone of peace and shared prosperity. In any case, as a space where everyone has become aware of what binds him to others.

The UPM, launched on July13 2008, has revived a process of joint decision and regional co decision around concrete projects. Although the installation of its bodies is now slowed by the events occurred in the Middle East since December 2008, it is essential that it should be at the heart of a regional approach aiming at anticipating the effects of the crisis.

Opening Session: Overview of the economic crisis in the Mediterranean partner countries of Europe (PM)

At the moment when this program is developed, it is clear that the global crisis still has relatively mitigated effects (-3% of GDP growth) on the Mediterranean partner countries of Europe. That is due to the fact that banks are not exposed directly to the international crisis.  What could appear like a handicap, due to the existence of semi-fixed exchange rates, non-convertibility of the stock-account, weak investment portfolio and weak presence of foreign banks avoided them being implied in the systemic banking crisis.

Nevertheless, the shock of the crisis will appear during 2009 and 2010 with the global recession and, in particular the European. It is likely that the shock will eventually lead to difficulties in banks, will make more delicate the balance of public finances, will cause a drop in monetary reserves and will reach consumption, investment and employment.

The opening session will aim to enable the authorities represented and the international organizations to give their views on the situation of their country or region, to indicate how anticipations evolve and to present the policies implemented to facilitate the adjustment.

Session 1: What is the situation of the financial institutions in the Mediterranean countries (PM)

The financial crisis that has been the origin of the current global crisis does not threaten directly the Mediterranean countries. The indications that we have on the size of financial sectors dominated by banks on their liquidity and the level of intermediation currently seem not to raise difficulties.

For several years the Mediterranean countries have undertaken major reforms to make their banking system more secure by funding more non-performing loans, to develop stock exchange and to encourage investment funds.

Nevertheless, all studies underline the difficult access to bank financing of private operators and his cost, just as the obvious underdevelopment of the non- bank financing.

The asked questions in this session are the following ones:

• Is the relative safety of the financial sector confirmed everywhere?
• Isn’t there a risk that the crisis has hampered reform efforts underway in the financial sector and prohibits the necessary rebound when the real effects will manifest themselves?
• Which consequences will have on the financial system capital losses suffered by the Gulf countries?
• Is the financial system equipped to support companies threatened by the European recession?

Session 2: What will be the effects of a global recession, in particular the European, on the PM?  Through which transmission channels

The real shock linked to the crisis will pass through four main channels, exports which will suffer from the decrease in the European domestic demand and more generally of the domestic demand of the OECD countries, tourism, the transfers of incomes of the immigrant workers who directly register the rise of unemployment in Europe and the inflow of direct investments. It is clear that each Mediterranean country has specificities which make it more sensitive to such or such effect.

Nevertheless, there is no doubt that these effects which one can describe as realities will appear everywhere. The present session will call on the leaders and entrepreneurs of the South who will indicate the magnitude of these shocks and suggest measures to be taken to mitigate its effects.

This session will also present the expected effects on unemployment and the adequacy of social policies to address the likely increase in poverty.

Session 3: Which multilateral action of the UPM and by what means? Which window of political opportunity for the UPM?

Which is the method of action of the international community with respect to the Mediterranean countries concerning the crisis?  The present session will indicate where are the responsibilities and the assigned roles with the ones and with the others and will arise the question of what can bring the Barcelona process from now on prolonged, renewed and re-enlisted by the UPM.  It will also try to evaluate if it is conceivable that the UPM does not have any specific action taking into account its initial intentions. In this discussion the representatives of the South will have a central place.

Conclusion and declaration

The organizers will bring together the principal speakers to discuss with all participants a draft declaration including recommendations which will be issued to the press.

The Conference relates to many private and public stakeholders on both sides interested in the effects of the crisis on developing countries of the Mediterranean. It will gather, in particular, concerned political and administrative officials, academic researchers of the Circle of the Economists, the Institute of the Mediterranean and Femise, major journalists commentators of the national press, representatives of private companies and interested banks, experts from the European Commission and major multilateral organizations.

Guidelines for speakers

- Most sessions are scheduled to last an hour and a half. Each speaker will have 10 minutes for his presentation. This will leave half an hour of open discussion with the audience.
- Presentations can be made in French or English and will be covered by a simultaneous translation.

Parce que les questions économiques sont aujourd’hui sous les feux de l’actualité, qu’il ne faut pas rester sous la pression exclusive du futur proche et que l’on ne peut envisager la sortie de crise sans se projeter dans l’avenir.

Parce que les quatre grandes questions qui vont se poser à l’échelle planétaire et déterminer ces nouveaux équilibres sont :

• Les rééquilibrages de la production de biens et services et donc de l’activité économique,
• Le financement de l’économie mondiale,
• Les flux migratoires,
• Les transformations dans les modes de répartition de la valeur ajoutée et des revenus ainsi que les transferts intergénérationnels (retraite, santé) et entre grandes zones géographiques.

Parce que dans la croissance potentielle, il y a deux variables, les gains de productivité d’une part, qui sont liés à l’innovation, et l’évolution de la population active d’autre part. Ces deux variables sont largement déterminées par les investissements liés aux nouvelles formes d’activités (énergie renouvelable, santé, éducation). C’est la raison pour laquelle seules des expertises dans ces domaines permettront de penser le nouvel équilibre mondial.

Enfin, parce que les politiques publiques du monde entier devront désormais imaginer les moyens de faire face aux dépenses liées à une réorganisation profonde des marchés. Finalement, la question qui lie économie, croissance, démographie et finance est celle-ci : où va désormais naître la richesse, comment va-t-elle se répartir, qui sera en charge de ces nouveaux équilibres ?

Programme en ligne

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Dear Sir, Madam,

We are pleased to invite you, to the fifth edition of the Rendez-vous de la Méditerranée, which will take place on October 10, 2009 at the gardens of the Palais Pharo, Marseilles.

This year’s conference will relate to:

“WHAT ARE THE IMPACTS OF THE GLOBAL CRISIS IN THE MEDITERRANEAN, WHAT ARE THE ANSWERS?”

The Circle of Economists and the Mediterranean Institute have prepared this Rendezvous in conjunction with the interdepartmental mission “Union for the Mediterranean” of the Elysée, who kindly agreed to join it. We want to emphasize the importance of this year topic at the time when the effects of a global crisis most probably, will be transmitted, overwhelmingly to the Mediterranean countries. To evaluate the importance of this shock, to examine by which vectors it will be transmitted, to listen to the decision makers of the South to explain the degree of impact in their countries considering the possible contributions of the latest multilateral developments, will all be in the heart of the debates.

In particular, we expect, to examine to which extent the Union for the Mediterranean can play a role in a better understanding of the effects of the crisis and help to mitigate the consequences. We are convinced that a regional response to the crisis, even if limited, would greatly strengthen the efforts undertaken since nearly fifteen years to integrate and establish a large Euro-Mediterranean region.

With this perspective in mind, we decided to find an answer to four groups of questions which will guide us to unfold the Rendezvous of this year:

• What is the general overview of the economic crisis in the Mediterranean partner countries of Europe (PM)?
• What is the situation of the financial institutions in the Mediterranean countries?
• What will be the effects of a global recession, in particular the European, on the PM?  Through which transmission channels
• Which multilateral action of the Union for the Mediterranean (UPM) and by what means? Which window of political opportunity for the UPM?

We hope to have the honour to welcome you, on October 10, 2009, in Marseilles

Yours faithfully,

• Jean Claude Gaudin
• Michel Vauzelle
• Laroussi Oueslati
• Jacques Pfister
• Henry Marty-Gauquié
• Chékib Nouira
• Aziz Cherkaoui
• Jawad Kerdoudi
• Jean-Paul De Gaudemar
• Pierre Deusy
• Philippe De Fontaine Vive
• Radhi Meddeb
• Slimane Benaissa
• Jean Bombin
• Michèle Gendreau-Massaloux
• Lionel Urdy

Jean Claude Gaudin, Maire de Marseille

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Michel Vauzelle, Président de la Région Provence-Alpes-Côte d’Azur

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Laroussi Oueslati, Conseiller Régional PACA

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Jacques Pfister, Président de la Chambre de Commerce et d’Industrie Marseille Provence

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Henry Marty-Gauquié, Directeur de la Banque Européenne d’Investissement

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Chékib Nouira, Institut Arabe des chefs d’entreprises, Président, Tunis

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Aziz Cherkaoui, ex-député-maire de Marrakech, Président du Centre Culturel Euro-méditerranéen du Maroc, Auteur de « Union Pour la Méditerranée : Initiatives, Instances et instruments »

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Jawad Kerdoudi, Président de l’Institut Marocain des Relations internationales, Casablanca

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Jean-Paul De Gaudemar, Recteur de l’Académie d’Aix-Marseille, Chancelier des universités

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Pierre Deusy, Chef économiste DG Relex Commission Européenne

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Philippe De Fontaine Vive, Vice-Président de la BEI

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Radhi Meddeb, Directeur Général de l’Institut de Prospective Economique du Monde Méditerranéen, Président Directeur Général de Comete Engineering

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Slimane Benaissa, dramaturge et romancier algérien

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Jean Bombin, Vice Président et représentant de l’Arc Latin auprès de l’UE

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Michèle Gendreau-Massaloux, Recteur, Conseiller d’Etat, Formation, enseignement supérieur, recherche.

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Lionel Urdy, Directeur Général de l’Ecole de la deuxième chance, Marseille

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