Dr. Karl Otto Pöhl, a former Central Bank President, was the first speaker of the International School São Lourenço’s programme of Distinguished Speakers, which will see senior students participate in a series of talks by prominent people who have made notable contributions in their field of endeavour.
The school aims to inspire students with the knowledge provided by people of exceptional standing.
The first distinguished speaker in this programme was Dr. Karl Otto Pohl, who from 1980 to 1991, was President of The Bundesbank, the German Central Bank.
The 1980s, with the fall of the Berlin wall and German reunification, were politically and financially turbulent times for Germany and Europe.
Pöhl was the driving and successful force behind German efforts to get Europe’s rampant inflation under control and to lay the framework for broad monetary cooperation among industrialised countries leading to the Euro.
Although initially against European monetary union, he relented on the basis that, if it was to go ahead, the European Central Bank (ECB) should be modelled on Germany’s Central Bank. He is referred to as one of the fathers of the Euro.
His talk, to a room full of attentive students and teachers, explained what has happened to the world’s economy over recent years, the growing influence of global financing and the changing perceptions of the main currencies. He explained the causes of the current world economic financial crisis and the implications for an increasingly integrated world economy. Following this, he fielded questions from the students who were fascinated by the insight of top level banking and economics they had just received.
Student Freddy Waite said: “The talk really showed us a detailed cross section of the world economy.” Michelle Van Rietschoten added: “The talk really helped open my eyes to the problems in the world economy and to be able to relate the detail to my study of economics is really helpful.”
Terry McGuire, Headteacher, told the Algarve Resident: “This is a remarkable experience for our pupils. We need to open their minds to new experiences and the realities of the world.”
Dr. Pöhl is a frequent visitor to his holiday home in the Algarve.
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