Despite the huge sums of money that have been pumped into the Euro following the European and IMF announcement of a €750bn support package investor confidence is continuing to fall.

Christopher Wasserman, President and founder of the Zermatt Summit which is an independent business summit run by the Zermatt Foundation, said: ‘The continued loss of confidence is hurting our economies, and ultimately the root cause is loss of trust which has fallen to an all time low and could fall further, due to the high risk approach to debt, leading to a collapse in trust of our political and business leaders. For stability to be restored and sustained, we urgently need to govern and run our companies with an ethical, transparent and accountable mandate which needs to lead to a significant change in leadership behaviours, without which we are heading for further catastrophe. Already we are sowing the seeds for a second asset bubble.

The Zermatt Summit, whose inaugural summit is taking place between the 3-5 June in Zermatt, Switzerland, has been created to allow innovative business leaders, CEOs, senior policy makers and NGOs to discuss how ethics and not the sole pursuit of pure profit can drive business practices forward in the forthcoming years.