last week, perhaps the most interesting markets for political news came from the States, where Barack Obama has announced another loud initiative of his administration - banking reform. The essence of the proposed reform in establishing the maximum size of banking institutions, as well as the delimitation of the depository and investment banks that will not allow them to engage in high-risk trader operations. Some observers have already dubbed the new initiative of Washington”s “war against Obama”s Wall Street, considering that in the event of such restrictions unofficial, but recognized by the world financial center certainly will lose a number of advantages over competitors. There is, however, and the view that the banking reform, if held, will be much less radical, and Obama”s current proposal no more than a political move.

Despite the fact that Barack Obama has not talked about any concrete plan of action, but simply outline some of the very uncertain prospects, world markets react to these proposals very emotional, showing a decrease. Realize, these plans will be fairly difficult, given the fact that banking reform is even more questions than sensational health care reform, and “native” party of the American president - the Democrats - lost their supermajority in the Senate.

The onset of week will, of course, under the sign of the International Economic Forum in Davos, which opened yesterday in Switzerland. Our slogan for the 40th anniversary meeting of business elites, political leaders and representatives from the scientific community have become “three R” - “rethink, transform, restructure”. “Reorganize”, apparently intended in the narrow sense of failure which gave the world financial and economic system, and in the broader sense - a world order in general. It is unlikely, of course, be expected from Davos any tangible results or even revolutionary ideas, but, as usual, the most representative global informal forum very clearly reflects the trends that exist at the present moment in world politics and business.

Last year”s forum was held in a rather gloomy atmosphere, it seemed imminent start of a new Great Depression on a global scale, but this year, as the vast majority of observers, the mood improved markedly. Representatives of business community once again became more than political figures, although the agenda is still closer to the Governments than the business elite.

Changed and the “key figures” forum. From business best-known co-chairs of this forum have become CEO Deutsche Bank Josef Ackermann and Google, Eric Schmidt - banks and information technology. Among politicians, many of the first people from Europe: a forum was opened by French President Nicolas Sarkozy, is also expected to attend the Spanish Prime Minister Jose Luis Zapatero and the President of Poland Lech Kaczynski. According to observers, it is the issue of debt and financial commitments of some EU countries may be one of the most acute in the current forum. United States, by contrast, the second consecutive year are limited to very modest delegation. Also, as in the past year, Washington forum will be Presidential Adviser on Economic Affairs, Larry Summers.

Among developing economies, this year”s “superiority” on the side of America: the forum will be attended by Brazilian President Luis Inacio Lula da Silva and Felipe Calderon. China and Russia will be represented modest. Instead of heads of government who spoke in 2009 at a specially organized “regional” discussions, Russia will provide Alexei Kudrin, and Beijing - Vice Premier Li Keqiang, who, however, as the most probable successor Venya Jiabao as prime minister in 2012. Thus, most likely, the sharpness of issues related to China and its economic and financial policies will remain: the question of revaluation of the yuan and the controversy surrounding the possible departure from Google China will contribute to that.

Other events of the week:

next week is expected to:

Constitutional Court: Joint Stock Company is not relieved of responsibility for the maintenance and storage of registry issued by the registrar
Oil night greatly reduced failed and remained essentially at the same level
Look at today”s market
Overview of the oil market for 27.01.10
Comments Fed-up meetings and Barack Obama”s speech broceaught a revival in the stock markets
Poland reached an agreement with Russia on gas discount
Traders lost main paper
Russia”s withdrawal of the investor saved Saab
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