Seven Hills co-founder Nick Giles reports from Davos for his column for BusinessZone.co.uk. Read the column below and here:
Davos: Up to their necks in it
An unprecedented blanket of snow has greeted those arriving in Davos this week for the World Economic Forum. Every rooftop has a precarious layer of icing that looks close to collapse and more than one commentator has likened the snowdrift to the seemingly insurmountable problems the leaders gathered here face.
Last night Angela Merkel delivered what’s been described as a downbeat but pragmatic keynote address on the state of the Eurozone. Today the prime minister David Cameron will urge Europe’s leaders to stop tinkering and that only bold action will avert a worsening crisis for Britain and the continent.
Despite the undeniable glitz, glamour and the buzz of the meeting rooms, the prevailing mood here is certainly downbeat. Breakout sessions ask searching questions such as ‘What next for Europe?’ It’s a very good question that many here are struggling to answer. The #Occupy protestors down the hill would certainly like to know what those in this high security enclave are planning on doing about it.
Martin Wolf, chief economics commentator at the Financial Times, was on the front row at the standing room only event hosted by Clifford Chance yesterday. He observed that the panel comprising distinguished economists and corporate leaders had “demonstrated the complete absence of a shared diagnosis of the problem”.
One wag added that Europe’s leaders had gone from listening and dithering to dithering and listening and that none of it was doing us any good. If people are expecting answers from those gathered at Davos – it’s far from clear whether there will be any.
Clearly Davos is where the world’s leaders gather to discuss the thorny issues of the day. But of course the other point of this annual gathering is the unrivalled opportunity to network and make connections and there is arguably no better place on earth to do just that.
With a roll call including Bill Gates, Mick Jagger, Christine Lagarde, Lakshmi Mittal, Timothy Geithner, Paul Polman, Ariana Huffington and Eric Schmidt, not to mention our very own Boris Johnson and Sebastian Coe – it’s clear that Davos still has the power to draw many of the biggest names in business and politics.
Perched atop the hill, the five-star Belvedere Hotel is where the serious schmoozing takes place. From the KPMG lounge to the Google bar to the PwC suite, there are huddles of busy executives in every corner having urgent conversations. Eyes dart left and right for the next big name to walk in.
Last night at the Forbes party, billionaires rubbed shoulders with the bright young things from Silicon Valley. Down the corridor the DLD event was packed to the rafters – if your name wasn’t on the list you were definitely not getting in. The same goes for the Google after party on Friday – the hot ticket for the week.
While the mood may be sombre, attendees are undoubtedly enjoying the ambience and the chance to make important connections. But the key concern everyone shares is slipping on the ice or getting buried neck deep in snow. While it’s an amazing place to be, at Davos this year the risks are plain to see.
Nick Giles is co-founder of the public relations firm Seven Hills.