"The main conversation will be about a deficit of leadership in Europe as a prime problem," said John Quelch, the dean of China European International Business School.
There's have been dozens of meetings, initiatives and promises in Europe. So, there is plenty of leadership; what it lacks is coherence, and most importantly, honesty. The leaders seem to admit there exists a credibility gap, but deny their role in bringing it about:
"We have a general morality gap, we are over-leveraged, we have neglected to invest in the future, we have undermined social coherence, and we are in danger of completely losing the confidence of future generations," said Klaus Schwab, host and founder of the WEF. "Solving problems in the context of outdated and crumbling models will only dig us deeper into the hole", he added.
|Klaus Schwab. Worried at Davos.|
An article from the semi-official 'Third Way' website published in October 2011 admits the problem: "Ten years ago, Europe faced a looming debt crisis but economically, fiscally, and demographically they buried their heads in the sand, were afraid to confront voters with the truth about their fiscal situation, and now face draconian measures that may not even be enough."
I'm sure blaming the current mess on "outdated, crumbling capitalism" will work out better this time around.