Around 400 international scientists, managers and specialists from credit institutions and central banks discussed the situation and future of banks and the financial system worldwide over three days at the VIII. International Science and Practical Conference in St. Petersburg discussed the situation and future of banks and the financial system worldwide under the title:
"The Architecture of Finance: the Illusion of Global Stabilization and the Prospects for Economic Growth".
On behalf of the Rectorate of the Saint Petersburg State University of Economics UNECON, the Dean, Prof. Dr. Veronika G. Shubaeva, invited Prof. Dr. Clemens Renker from Zittau to the main event as keynote speaker. Under the topic "Демоны над немецкой банковской системой - Проблемы , последствия и решения " (Demons over the German banking system - problems, consequences, solutions), Professor Renker presented ten challenges that are occurring simultaneously for the first time in the history of German credit institutions. He used concrete analyses and figures to show the consequences for the banks' earnings situation and equity situation. It became obvious to everyone that the current business models of banks cannot secure their existence. The question for savers is no longer whether their deposits will lose value in real terms. Instead, German savers are confronted with the question of how high their losses will be or even whether a total loss will occur if the business models are not completely transformed in time.
In another speech in the large ballroom of the Central Bank of Russia at the invitation of Director Prof. Dr. Nadeschda A. Savinskaya, Professor Renker emphasized once again with reference to the insights of great Russian writers: All conventional ways of thinking and behavior are no good for solving the historically completely new framework data. Lev Tolstoy already explains success factors in the first two sentences of Anna Karenina and concludes that everything is in disarray, confusion in the houses of the banks - "Все смешалось в доме Облонских ." Alexander Pushkin states in his poem "The Demons": ""Сбились мы . Что делать нам !" -We've lost our direction. What shall we do! Similarly, Fyodor Dostoyevsky emphasizes the need for a total overhaul of the financial system and banking in his great works "Crime and Punishment" and "Evil Spirits": We need the gradual renewal of man, the renewal and transformation into valuable banks.
For this we need the great idea "великие мысли " of new business models.
