Forecast '99
in brief
contents
Rabobank
Monthly newsletter for Rabobank International fot UltGMClI USB Oïlly Issue 12 December 1998
'ombining core
focuses
International
Whafs NewS
bridging the know
ledge gap this month
What'sNewS
On December 8, outgoing
Rabobank chairman
Herman Wijffels presented bis
annual year-end economie
forecast to an elite gathering of
Dutch business and financial
leaders. The speech was
notable this year for its
signifieantly wider and more
global scope. It was set against
^ie background of uncommon
^urbulence in financial markets,
important shifts on the political
and public policy scene, and
unprecedented challenges in the
technical arena. These will be
decisive factors influencing
further global economie
development, Wijffels noted;
other factors include the
inaugural year of European
economie and monetary union
and the probable disruptions
related to the so-ealled Y2K or
millennium computer bug.
Regarding the Netherlands, he
forecast markedly
slower economie
growth (some 2.5%
in 1999), but
stopped short of
predicting outright
recession. Incoming
Dutch Central Bank
chief Nout Wellink,
who joined him on
the podium, broadly
agreed. He drew
attention to the recent
coordinated European interest
rate cuts as a model for future
monetary policy cooperation.
A weakening economy and the
persistent need for EU
structural reform leaves little
room for budgetary policy
stimulation, Wellink said; he
also called for continuing wage
restraint. Cor Brackel,
chairman of Dutch publisher
Wolters Kluwer, pointed out
that long-term economie
m
Wijffels, putting our future on the line
competitiveness crucially
depends on enhanced
investments in education and a
strong human resource base.
The speeches attracted wide
media attention in the
Netherlands. Traditionally, the
annual Rabobank forecast has
focused primarily on Dutch
economie prospeets; this years'
event was marked by the
introduction of an altogether
new and more broadly
comprehensive English-
Today's consumer is
increasingly aware of the
growing relationship between
food and health. That's why
the recent European Food
Summit, organized by the
C1AA (the conference of the
food and drink industries of
the EU), entitled 'Food, Health
and Well-Being' hit the spot. It
was the second such European
Food Summit to be held in the
last four years, and with an
obvious emphasis on our core
focuses, our Paris branch was
one of the main sponsors. Not
only was the conference
unique in combining our core
focuses, it also provided a
platform for the over 700
Henk Gentis, demonstrating in-
depth knowledge
international participants -
made up of clients, various
food corporates and pharma-
ceutical eompanies - to
communicate and demonstrate
language report, 'Forecast
1999'; intended for our
internationally active clients,
it focuses on global economie
trends. An important tooi in
sharpening our profile as a
knowledge-driven wholesale
bank, this report was prepared
by professionals in our global
research team, working in
conjunction with the
Rabobank group, it includes
indepth analysis of fixed
income, credit, EX and equities
markets. Copies of this
English-language study are
available front RI marketing.
their contribution to the
quality of life, the well-being
and the health of consumers.
Issues of genetic modification
and regulations concerning
health claims were also
addressed. keynote speaker
was our own ntanaging board
member Henk Gentis, who
reinforced our strong
commitment to both F&A and
health care. 'When looking at
the entire food chain, it is
important to accept that for
producers, processors and
distributors alike, consumer's
health preferences are one of
the driving factors.' And for
us as a successful financial
institute, 'real understanding
of our chosen niche sectors is
vital in allowing us to
optimize the cliënt focus
strategy we follow.'
Linking up with Frankfurt media
- Mittelstand food conference 3
Management strategy Van
Slingelandt's progress report 4
Atlantis - phase two in
securitizing our ossets 6
Knowledge management special
- second part in the knowledge-
research series 7
Investment banking - service
model bridging front and back
office systems 16
Euro conversion a successful
dress rehearsat 18
Talking heads - Manfred
Schneider on making
transitions 20
