Also present were representatives of the U.S. Department of Commerce, the Food and Drug Administration and the European Commission. The atmosphere in the brightly lit hall was one of expectancy, the conversation muted as delegates exchanged business cards, firm handshakes and continental-style kisses. Conferees took their seats and turned to face the dais in unison, shiny pates reflecting the lights from the chandeliers. A clutch of junior delegates stood near the back of the hall before the session began, discussing the efforts of street protesters. The delegates laughed again.
Business trips are fun.
Conference co-chairman George David, chairman of United Technologies Corp., opened proceedings and set the tone, stating the importance of globalization, harmonization, technology and interdependence. U.S. Treasury Secretary Larry Summers was next to take the lectern. I think sessions of this kind are extraordinarily important. In the years ahead, it will be important for there to be a convergence and greater understanding between the U.S. and Europe, Summers said, noting differences between the two continents are still impeding free trade. Touching on the importance of deregulation, harmonization and globalization, Summers stressed the technological strength and economic stability of the U.S. and the high toll of social solidarity and cohesion on Europe during the last decade.