Rolling coverage of the second day of the World Economic Forum, as Shinzo Abe, Angela Merkel and Wang Qishan all speak, and Prince William discusses mental health
- Introduction: G7 leaders at WEF
- Mental health with the Duke of Cambridge
- Photo: Anti-WEF protest at Davos
- Hammond pulls out of Davos panel
Pierre Moscovici, the EU commissioner for economics affairs has been speaking in Davos about Brexit.
He says it’s now up to the UK to tell the EU where they want to go, adding that a delay to Brexit is possible:
Of course, we are ready to discuss. You ask me about a delay … this is a possible scenario, but for that there are two things that are required. First, we need to have unanimity on that – I’m not so worried about that because until now the 27 EU states are really united and I don’t see why this would change. Second we need a reason to extend. We need to know why to extend, what for, what’s the plan. The ball is clearly in the British side.
Back in the sustainable development session, Lagarde also warns that it’s simply impossible poor countries to mobilise enough resources domestically to meet basic development goals for sectors such as health education roads and water.
To meet UN sustainable development goals by 2030 will mean investment worth 15% of GDP for low income countries.
“That’s monumental. No way can that be done by domestic resource mobilisation. Business has to be part of it.”