Philipp M. Hildebrand*, Chairman of the Governing Board
Annual General Meeting of the Swiss-American Chamber of Commerce Rüschlikon
* I would like to thank Rita Kobel Rohr for her valuable support in drafting this speech. I also want to thank Matthias Lutz for helpful comments.
I want to thank the Swiss American Chamber of Commerce for the kind invitation. It is a
privilege to speak to you this evening at your Annual General Meeting. The last time I was with you – it is now nearly two years ago –, I paid homage to Albert Gallatin, the legendary Swiss-American Secretary of the Treasury of the United States at the beginning of the 19th century. On that occasion, I chose to honour Gallatin because I felt he incorporates fundamental values long shared by Swiss and Americans alike. As it turns out, recent developments in Europe and elsewhere demonstrate compellingly that one of the important lessons of Gallatin’s outstanding career remains particularly relevant today. He teaches us that public debt reduction requires unwavering political commitment to fiscal discipline.
For the full speech see: http://www.snb.ch/en/mmr/speeches/id/ref_20100621_pmh/source/ref_20100621_pmh.en.pdf
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