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At the peak of the Covid-19 crisis, many people have started to think about life after lockdown. What kind of world do we want to pass on tomorrow? Isn't it time to reflect on some absolute values like solidarity, cooperation and trust?
Our shared desire for a better world
The quarantining of our economy shouldn't stop us thinking about tomorrow. One day things will return to ‘normal’. But will the new normal mean doing things the same way as before?
Covid-19 is revealing some of the limits in our world. Individualism and personal success have all too often become the norm. But it is solidarity which will enable us to get out of this unprecedented crisis.
Of course, we need the economy to recover as quickly as possible. Companies and organisations need to be running at full capacity to support business, employment, consumption, public finances, etc.
But aren’t we all hoping to rediscover a better world from now on? More caring for our fellow man? More responsible, at every level?
Calling for solidarity and cooperation
“Coronavirus must not lead to us building walls, restricting travel, reducing trade. […] Just the opposite. The real antidote to the epidemic is not segregation but cooperation,” explains Yuval Noah Harari, a specialist in military and mediaeval history and author of the international best-seller ‘Sapiens: A Brief History of Humankind’, in an article published in Time Magazine on 15 March 2020.
Harari reminds us that epidemics killed millions of people long before the current age of globalisation. “In the 14th century, there were no planes or cruise ships, yet the Black Death spread from East Asia to Western Europe in little more than a decade, killing at least a quarter of the population. […] History indicates that real protection comes from the sharing of reliable scientific information, and from global solidarity.”
Local engagement is vital
This call for solidarity and cooperation is one Banque de Luxembourg has understood and embraced. It is reflected in the following decisive actions.
- The Bank’s immediate commitment to supporting the local economy, family businesses and SMEs, all particularly affected by the crisis;
- The donation of masks to the Luxembourg Red Cross and a financial contribution to the production of PPE for hospitals;
- Emergency measures implemented to support our clients and our employees, aimed at protecting everyone’s health.
Return to simple values
One benefit of Covid-19 has been to highlight the limits of a globalised just-in-time industrial logic, blinded by an obsession with lowest cost.
For many, the pandemic is prompting a return to simple values. Telephone and video calls are flourishing as people keep in touch with family and friends. Cookery books are being resurrected from the cupboard. Home-made cakes are replacing shop-bought treats. Patios and gardens are seeing a green-invasion of vegetable plants. Time, a precious value, can be purposefully channelled to get back to basics.
The indispensable foundation of trust
Let’s put our trust in our local suppliers, small traders and independents, whose short circuits are synonymous with quality and close ties to the community. Let’s protect our planet from excesses of all kinds. Let’s take care of each other. Let's ensure we rediscover our core values, away from passing fads and over-indulgences. Let's cultivate a humble and responsible approach so that we can start giving greater meaning to our investments.
A caring and responsible Bank
At Banque de Luxembourg, we are doing our utmost to help our clients cope with this unprecedented crisis. Since our beginnings in 1920, our mission has always been to be a caring and responsible bank. In this time of crisis, an attitude of caring and responsibility has become a necessity.
Listening to our clients, we will be even more attentive and caring, supportive and responsible than ever in the future.
We are and will remain by our clients' side, at every stage of their lives, in good times and in more challenging periods, like the one we are currently going through.
In our century-long history, we have gone through several major crises. Our resilience has been severely tested. Each time, we have risen to the challenge and emerged stronger.
The sound financial health of our Bank and that of our non-listed shareholder, the Crédit Mutuel group, means we can look to the future with confidence.