Otmar Issing: „Don’t repeat errors of the years 1929 to 1933“
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Prof. Otmar Issing at the 4th European Procurement Excellence (EPE) in Munich
130 CPOs and CFOs on AMMPL-Summit in Munich
”Co-operation instead of confrontation as an important part of a world-wide crisis management”: This message demanded the former president of European Central Bank professor Otmar Issing in front of 130 European Chief Procurement Officers (CPOs) and Chief Financial Officers (CFOs) in Munich. At the 4th Summit "European Procurement Excellence: Managing in the Downturn" – hosted by the Association Materials Management, Purchasing and Logistics (AMMPL) – Issing warned to repeat the errors of the years 1929 to 1933.
The referent criticized the actual practiced „no-beggar-my-neighbour-policy” of some national states where political decisions are made at the expense of their neighbour states.
The referent criticized the actual practiced „no-beggar-my-neighbour-policy” of some national states where political decisions are made at the expense of their neighbour states.
According to Issing financial crisis and global instabilities can only be mastered, if the leading actors rebuild confidence into markets, market mechanisms and last not least into politics. Key aspects are tax and money market politics, recapitalization of the banks, clear strategies of the central banks as well as the definition of exit strategies.
Issing: ”Premises are transparency, adjustment and supervision; but also a redefinition of the role of international institutions is important.”
Hans Joachim Lumbe (Nokia Siemens network), member of the AMMPL Executive Board, emphasized the special meaning of procurement for world-wide protection of companies’ competitive ability: ”Only those enterprises and companies come out strengthened from the financial crisis, which co-operate with their strategically relevant suppliers in partnership.” Buyers cannot be interested in suppliers’ insolvency. In period of economic growth it is important that suppliers’ know-how will be available.
According to Lumbe signs point to the fact that the low point of the recession is ridden out: „The industry still has to fight with harsh business losses, nevertheless we look into a better future“. The thesis is allocated through the current German Markit/AMMPL Purchasing Managers’ Index, which rose in report-month May 2009 for the fourth time in a row and climbed to 39.6 - the highest increase since beginning of the inquiry 1996. The low was reached in January 2009 with 32.0; afterwards the decrease of new business slowed down substantially and the minus of the export markets reduced. Only values over 50 points signal growth.
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