News & Announcements

October 21, 2016

La Wallonie entre dans l’histoire à reculons

La décision du gouvernement wallon de refuser son approbation au Traite entre l’Europe et le Canada fait partie de la tendance mondiale vers un populisme qui rêve de détruire la mondialisation. Cette décision pose des problèmes pour la Wallonie, la Belgique et l’Europe, mais surtout la question de l’avenir des traites internationaux. Ce sujet n’est d’ailleurs pas strictement européen, et les oppositions diverses et variées au Traite Trans pacifique ne sont pas moins violentes. En savoir plus

Blog Article, French
October 13, 2016

The Federal Commission Should Cancel The Third Debate

The Federal Election Commission has remarkably failed in its responsibility to organize fair debates. The “town hall” was more formal than a classical debate and the absence of table allowed the Republican Candidate to literally circumvent the Democratic candidate. That is on the form. Read More

Blog Article
October 11, 2016

Les principaux défis de la Présidence d’Hillary Clinton

Maintenant qu’il est clair qu’Hillary Clinton gagnera haut la main les élections présidentielles, il peut être utile de se demander quels sont les principaux défis auxquels la Présidente des Etats-Unis sera confrontée au cours des prochaines quatre années. Sa capacité d’agir sur ces sujets dépendra en grande partie du Congrès : c’est pour cela que les républicains, qui savent qu’ils ont perdu la course à la Maison Blanche, se concentrent sur les élections parlementaires. En savoir plus

Blog Article, French
September 28, 2016

L’invité de la rédaction – le premier débat Clinton-Trump

L’invité de la rédaction – Georges Ugeux, président de la banque Galileo Global Advisors. Les marchés ont reculé avant le premier débat Clinton-Trump de lundi avant la présidentielle américaine. Que signifie cette réactivité? Y a-t-il de la nervosité en raison d’un résultat incertain du scrutin? Ancien vice-président de la Bourse de New York, Georges Ugeux est président de la banque d’affaires Galileo Global Advisors. More

French, Media, Radio
September 11, 2016

TV Journalists Should Not be Moderators of Presidential Debates

The wave of criticism of Matt Lauer for his performance as a moderator of the debate between Hillary Clinton and Donald Trump has evidenced the uneasiness that has been created by the various television channels. Matt Lauer had to field critics for a decision that was made by the NBC editorial staff. NBC Today is not exactly a news show. the Commander-in-Chief is not Matt Lauer’s expertise. Read More

Blog Article
September 5, 2016

L’affaire Apple est beaucoup plus complexe qu’il n’y parait

L’amende de 13 milliards d’euros imposée par la Commission Européenne au géant Apple qui vaut plus d’un billion d’euros en Bourse (550 milliards) a amené des réactions en tous sens tellement incohérentes que j’ai préféré attendre le calme de la fête du travail aux Etats-Unis ce lundi pour regarder de plus près cette étourdissante décision. En savoir plus

Blog Article, French
July 15, 2016

Italy is More Dangerous than Brexit: Europe’s Next Crisis Could be Systemic

The noise about Brexit, as historically and politically significant as it could be, has, over the past three weeks, allowed Italy to hide. However, whether its is the Financial Times about Italy’s banking crisis, the New York Times, Italy’s Plan for Banks could Roil Europe or The Economist Italy’s teetering banks will be Europe’s next crisis, serious media all came within a week to remind us that the reeal risk for Europe is Italian banking. Read More

Blog Article, Media
July 4, 2016

Brexit: la France veut-elle évacuer la Grande Bretagne?

Depuis plusieurs jours, les déclarations françaises se multiplient pour « évacuer » la Grande Bretagne de l’Union Européenne de toute urgence. Quelle mouche pique donc le Gouverneur de la Banque de France, le Premier Ministre, le Ministre des Affaires Extérieures et le Ministre de l’Economie, mais aussi les commentateurs ? J’ai tenté une analyse sur base de toutes ces déclarations. Voici mon analyse qui sera largement controversée. En savoir plus

Blog Article, French, Media
June 13, 2016

Donald Trump Desperately Looks for an Exit Strategy

As we are getting closer to Donald Trump’s nomination, his outrageous behavior has accelerated. He stated that he would not change if he were elected president, insulted the media who have blindly financed him for sake of reality TV, insulted Republican parliamentarians, refused to publish his tax returns and recently defended a fake university that bears his name. He is being more outrageous every time he speaks. Read more

Blog Article, Media
June 1, 2016

JIBLR Article: Building a European Capital Markets Union by Georges Ugeux

Journal of International Banking Law and Regulation – Building a European Capital Markets Union: The Need for Liquidity and Focus

 

The European Commission is building a Capital Markets Union (CMU) to counteract Europe’s over-reliance on bank funding. As the Commission’s CMU communication often refers to peripheral projects and misapprehension of Europe’s capital markets, this paper aims to contribute by highlighting the main challenges and action points for realising the CMU. Read full article

 

This material was first published by Thomson Reuters (Professional) UK Limited in Georges Ugeux, “Building a European Central Markets Union: The Need for Liquidity and Focus” (2016) 31 J.I.B.L.R. 314–330 and is reproduced by agreement with the Publishers.

Media, Print, Publications
May 4, 2016

Donald Trump sent me this message

 

Dear Georges,

[I wanted to answer your blog personally as you are questioning my candidacy for the Presidency of the United States of America. These are my original words, compiled to convince you of the contrary.]

A compilation of quotes from Donald. Read More

Blog Article
April 24, 2016

Time to be Serious About Cuba

These thoughts are the reflection of a people-to-people trip to Cuba with National Geographic, a program that is fundamentally educational and a discovery.

 

In 2015, the 7th Americas Summit, in Panama City, included Cuba for the first time. This U.S. initiative would have happened without the U.S. if they had refused the presence of its neighboring island. It was the first meeting between Barack Obama and Raul Castro, that led to the reopening of the U.S. Embassy and the visit of the U.S. President in Havana. It was also the clearest indication that the US were the only nation not to have such relationship. 90 miles from Key West, it was time not to submit US foreign policy to the lobby of the Cuban Americans in Florida. Read more

Blog Article
March 19, 2016

La crois­sance pour la crois­sance n’a pas de sens, il faut re­prendre les pro­blèmes à zéro

Georges Ugeux a déjà der­rière lui une longue car­rière dans le monde de la fi­nance. Il a tra­vaillé pour la Gé­né­rale de Banque, chez Mor­gan Stan­ley, à la Gé­né­rale de Bel­gique et chez Kid­der Pea­body. Il fut aussi vice-pré­sident du New York Stock Ex­change (NYSE), avant de fon­der sa firme: Ga­li­leo Glo­bal Ad­vi­sors. Au­teur, blo­gueur, ora­teur, le “Belge de New York” nous livre son point de vue sur les dé­ve­lop­pe­ments ré­cents de l’ac­tua­lité. En savoir plus

 

 

French, Media, Print
March 3, 2016

Où va l’économie européenne, avec Georges Ugeux

http://www.franceinter.fr/emission-un-jour-dans-le-monde-economie-mondiale-rien-ne-va-plus

 

C’est une première depuis 40 ans, les Etats-Unis détrônent la France à la place de premier partenaire commercial de l’Allemagne.  Réaction immédiate du gouvernement français, il n’y a aucun point de bascule juste l’effet d’un euro particulièrement faible. Vu d’ailleurs, de l’Allemagne et des Etats Unis, les choses sont appréciées différemment. L’économie américaine a retrouvé une véritable vigueur qui explique cette monté en puissance au cœur même de l’Europe.

 

Décryptage avec  Georges Ugeux, Président de Galileo Global Advisors, et ancien n° 2 de la Bourse de New York

French, Media, Radio
February 17, 2016

The ECB Should Not Purchase Italian Nonperforming Loans

Now we know what doing “whatever it takes” to ensure the stability of the Eurozone means. That July 2015 bluff by Mario Draghi, the ECB President, is now being called. The European Central Bank is in talks with the Italian government about buying bundles of bad loans as part of its asset-purchase program and accepting them as collateral from banks in return for cash, the Italian Treasury said according to Reuters. This announcement reassured the markets if it were to be followed by action. Read more

 

Blog Article
February 9, 2016

Will Italy Prompt a Global Financial Crisis?

The current situation is definitely not pretty. In the turmoil that affects equity markets, banks seem to be taking center stage. Among them, Italian banks have become the center of attention.

 

European banks are not in good health
The recent assessment of the International Monetary Fund that European Banks have not provided for 900 billion dollars of bad loans is not particularly reassuring. As early as this week, former Governor of the Banque de France Christian Noyer was bold enough to state that “Eurozone banks are going very well. It is solid”. It is precisely that official speech that is the first source of worry. Is it denial or public relations? None of those are part of a Central Bank Governors’ job description. The reality should be sobering. In the last five days Deutsche Bank shares lost 15% of their value. Read more

 

Blog Article
February 1, 2016

Donald Trump in the Role of a Murderer

Even the traditional and brain-dead campaign of the Democrats did not pick up on Donald Trump’s statement that he “could stand in the middle of 5th Avenue and shoot somebody and not lose voters.” Yes, it is outrageous, but it is worse than that. It confirms the lawlessness of Donald Trump. He does not even consider the consequences of his statements, let alone what it reflects of his true nature. Read more

 

 

Blog Article
January 18, 2016

Historic Weekend in Tehran: Iran (Almost) Without Sanctions

I had not been in Tehran for the past 38 years, but had been a frequent visitor of the country when I was in charge of the Middle East for my bank, Societe Generale de Banque, in Belgium. As the lifting of the Western sanctions against Iran was approaching, I undertook the journey back to Tehran this weekend. I wanted to evaluate what could be done in the field of finance to facilitate the reintegration of Iran in the global world of finance. I had published a post here, in September 2015, advocating the reintegration of Iran in the world community. Read More

 

Blog Article
December 15, 2015

And the winner is …ISIS. The pathetic Republican Presidential Debate.

The presidential candidates have collectively delivered a resounding political victory to ISIS, whom each of them focused on.

Following the debate was like listening to aspiring presidents who consider that the most important issue facing the United States of America is to “beat ISIS.” They did not even realize that, by doing so, they were giving ISIS the golden keys to the kingdom: the ability to define our policies. Read More

Blog Article
December 6, 2015

Georges Ugeux: “La fi­nance prend une tout autre tour­nure dans le cadre fa­mi­lial”

Êtes-vous sou­vent sol­li­cité pour don­ner des conseils fi­nan­ciers? Com­ment ré­agis­sez-vous?

 

J’ai dé­cidé de­puis long­temps de gar­der mes amis, donc je ne prête pas d’ar­gent. Par contre, les de­mandes éma­nant du sec­teur ca­ri­ta­tif ont ten­dance à aug­men­ter. Je fais par­tie du co­mité d’in­ves­tis­se­ment d’une ins­ti­tu­tion re­li­gieuse, du co­mité de fi­nan­ce­ment de la Bel­gian Ame­ri­can Edu­ca­tion Foun­da­tion (New York). En savoir plus

French, Media, Print
November 30, 2015

Bashing Belgium is Mean… and Ill-informed

Born and raised in Belgium, I have a bias. I went to the United States in 1996 to lead the NYSE’s research and international departments and I became a U.S. citizen in 2009 after Belgium allowed dual citizenship. After the Paris attacks, an insidious attempt to blame Belgium for the attacks struck me as (at best) ill-informed. Read more

Blog Article
October 22, 2015

Nous sommes en train de préparer une explosion sociale

Banques, banques centrales et Etat vivent aujourd’hui en circuit fermé, sans se préoccuper
de l’économie réelle. L’ancien responsable de la Bourse de New York, aujourd’hui banquier,
avertit: le politique doit urgemment mettre en place de profondes réformes,
sinon l’explosion sociale n’est pas loin. En savoir plus.

 

French, Media, Print
September 25, 2015

Could Solvency II Threaten the Financial Stability of European Insurance?

The European insurance sector has approximately 6.8 trillion euros of assets under management. It is the largest European institutional investor, a fundamental element of financial stability and provides support for the global economy. Additionally, the European insurance sector is a significant source of jobs, providing employment for more than one million people. The chart below illustrates the share of GDP represented by insurance premiums, generally defined as penetration ratios. Read more

 

Blog Article, Publications
September 10, 2015

Reintegrating Iran is the US Best Economic Interest

It is fascinating to read the (generally uninformed) comments that accompany the public debate around the approval of the Iran agreement that has been negotiated for more than two years. It is so obvious that it is better than the current situation that I find it necessary to spell out the economic case on behalf of the agreement. Read more

 

Blog Article
July 8, 2015

Le chaos financier chinois représente-t-il un risque systémique?

De la fenêtre de ma chambre d’hôtel, au 61eme étage d’un des buildings de Pudong, c’est le brouillard. Cette image illustre bien la situation qui prévaut en Chine depuis le début de la semaine. Peu de visibilité et une vraie inquiétude. L’impact de la chute du marché de 30% en 3 semaines ouu se traitent des volumes record, n’est pas une question qui concerne seulement les institutions. 80% des actions chinoises sont détenues directement par les ménages. L’inverse des Etats-Unis et beaucoup plus qu’en Europe. L’employé ou le petit commerçant ont été incités par le Gouvernement chinois de mettre leurs économies en actions comme la valeur qui monte. En savoir plus

 

Blog Article, French
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