The Prince’s Government has consolidated its strategic relationship with the United Nations Environment Program in the fight against plastic pollution.
An awarding ceremony by the European Commission to the United Nations Environment Program (P.N.U.E.) campaign ‘Aquariums of the world against plastics’ was held on Tuesday 3rd March at the Oceanographic Museum of Monaco.
In the presence of H.S.H Prince Albert, Monaco’s Minister for External Relations and Cooperation Laurent Anselmi signed a framework cooperation agreement with Inger Andersen, Executive Director of the P.N.U.E.
Given the importance of the environment in the Principality’s foreign relations policy, the Prince’s Government wanted to strengthen institutional dialogue and strategic collaboration with this program, which is authoritative on the international scene in environmental matters.
The agreement also aims to consolidate the various financial contributions paid by the Principality to the P.N.U.E., in particular in favour of its activities to combat marine plastic pollution and sustainable management of coral reefs.
Photo: ©Direction de la Communication/Manuel Vitali
Day: 4 March 2020
Decrypting the uncertainties of the world economy
Entrepreneurs in Monaco have heard that, while the current coronavirus epidemic is having immediate consequences, there are many other factors to consider when planning for the future.
Coface’s chief economist Julien Marcilly recently gave a conference for the 7th consecutive year to MEB members, organised in partnership with the Banque Populaire Méditerranée and Gramaglia. The event took place in front of more than 100 entrepreneurs eager for economic information in these times of uncertainty, in particular for companies linked to international markets.
Julien Marcilly outlined the various challenges facing global economic exchanges, starting with the coronavirus – although, as he said, “two months ago we did not think that a health crisis would be the main risk today”.
The upheavals, he said, are very real: a supply shock due to the cessation of Chinese production, as well as a demand shock caused by the spread of the virus. These have repercussions which affects the whole economy, provoking a general shock of confidence. As a result, global growth forecasts by Coface are revised downward by half a point, provided that the peak of the coronavirus is in the second quarter.
Another subject that was addressed by Marcilly was the somewhat eclipsed but nonetheless impactful rise of protectionism. The most obvious is the current trade war between the Americans and the Chinese, but there are others. In fact, the measures taken by the two giants represent only a quarter of the total worldwide. This is a fundamental trend, says Marcilly, which has repercussions on trade. But the effects are not always those imagined: regarding the American trade deficit, the decline of China as a supplier was mainly offset by an increase in imports from Mexico and Vietnam.
Meanwhile, Marcilly pointed to an atypical cycle where unemployment remains generally low however rates are not going up – favourable real estate and construction conditions where the liquidity risk which led to the 2008 crisis is not a priori to be feared. However, the repercussions of this situation he says would really benefit only the wealthiest households, as the weakest do not necessarily have access to property.
Still, according to the economist, services and players linked to tourism are suffering a dead loss in this period of uncertainty and sectors such as the automobile, metallurgy and textiles are facing longer-term challenges and will have to adapt to new data.
Top photo: Julien Marcilly, Chief Economist at Coface
Monaco real estate confirmed as most expensive in world
Photo: Pixabay
Which events are going ahead as planned?
While the government has not ordered the cancellation of major events in the Principality, some large gatherings are being rescheduled amid fears over the spread of the coronavirus. Others are going ahead as planned.
Now that the coronavirus has hit our region, the government and event organisers are taking steps to ensure the spread of the virus is contained and that those coming from restricted regions are not penalised. As a result, the Principality is seeing the cancellations of certain upcoming events in the name of fairness and public safety.
This week, Prince Albert II assured the public the that Principality is prepared to handle whatever comes, but his government has cautioned people to avoid large gatherings and to refrain from travelling to high-risk areas. The same goes for those wanting to come from high-risk zones.
As a result, MAGIC – which was scheduled for 7th March – has been postponed until 26th and 27th February 2021. “Our event is international, and we welcome mainly guests from risk areas,” said organiser Shibuya Productions in a statement. “Following the recommendations of the Government that we want to respect, we can not organise the event on Saturday.”
The company says many personalities have already confirmed to appear at February’s event.
The Aesthetic and Anti-Aging Medicine World Congress (AMWC), initially scheduled from 2nd to 4th April at the Grimaldi Forum, has also been postponed to November 2020.
UPDATE: The screening of the latest James Bond film ‘No Time To Die’ which was due to take place on 7th April at the Grimaldi Forum has been postponed to a date to be confirmed. This is due to the fact the producers of the 007 film decided to delay its release until November. As a result, a 007-themed party organised by the Princess Grace Foundation USA in April has also been postponed.
Meanwhile, the Monaco Sportsboat Winter Series regattas scheduled for this weekend have been postponed. The fifth and final races were meant to take place along with the awards ceremonies, but as several competitors would possibly undergo transportation constraints, the planners deemed it only fair to put it off until the start of next season, when the races and award giving would be able to take place in less stressful times.
But not all events have been put on the backburner. Both the Tango Fire show (6th-7th March) and The Misanthrope stage play (8th March) are going ahead at the Grimaldi Forum as planned.
Monaco Life will keep readers updated on events as word comes in.
Top image: By Shibuya Productions
Read more:
Interview: Cédric Biscay, CEO Shibuya Productions
Il Pirata at Monte-Carlo Opera
Spanish tenor Celso Albelo will be performing as Gualtiero. Mr Albelo is currently one of the best singers in the international scene, and has been acclaimed in Monte Carlo for singing operas such as Rigoletto, Guillaume Tell or I Puritani.
The opera will take place on 5th and 8th March.
Top photo: Celso Albelo, copyright Javier del Real