Round Table Conference on Macroeconomics, Business Environment and Finance

Prof. Statty Stattev, former member of the BNB Governing Council and Rector of UNWE /2011 – 2019/, Director of the Institute of Economics and Politics, emphasized on the fact that the world is facing the necessity to build a new economic order and new monetary and financial system, a new system for international specialization and cooperation, new organization of supply chains at all levels of production and sales. The recent financial crises in the world have shown that the chaotic competitiveness between currencies could not be controlled without world money. There is no single currency that could play this role and so is the electronic money. It means that the world should once again accept the gold as a common equivalent on the ground of world money treaty. It is too early to estimate losses but we can and should try to predict the future. We can mark the significant increase in online commerce and banking. Practice has shown that in many cases the online work is more effective than the previous models, said Prof. Statev.