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Calendar

Dec
11
Fri
Legal and Institutional Dimensions of EMU: Economists and Legal Scholars in Discussion @ Sala Triaria, Villa Schifanoia
Dec 11 all-day
Legal and Institutional Dimensions of EMU: Economists and Legal Scholars in Discussion @ Sala Triaria, Villa Schifanoia | Fiesole | Toscana | Italy

The purpose of this workshop is to begin discussions on four key areas in which actual or proposed changes to EMU can meet with legal and institutional constraints or raise important issues of design and effectiveness. Policy briefs which have been prepared by legal scholars in the project will be discussed in a shared meeting of legal scholars and economists. The discussion aims to deepen understanding as to how an effective and desirable EMU might be achieved and how, if at all, legal and normative difficulties that arise could be resolved.

Organisers: Professor Claire Kilpatrick, Professor Giorgio Monti (Department of Law, European University Institute)

Programme

9.30 – 11.00 Conditions posed to legal change in reaction to the Eurozone crisis at both EU and national level

11.00 – 11.30 Coffee Break

11.30 – 13.00 Exploring the new E in EMU: constraints and effectiveness

13.00 – 14.00 Lunch

14.00 – 15.30 Legal aspects of risk-sharing mechanisms

15.30 – 16.00 Coffee Break

16.00 – 18.00 Legal aspects of banking union | Follow-up discussion

Mar
9
Wed
Capital and Bail in Debt Buffers: Loss Absorption vs Risk Incentives
Mar 9 @ 1:00 pm – 2:00 pm
Capital and Bail in Debt Buffers: Loss Absorption vs Risk Incentives

Webinar #1 with Enrico Perotti

This webinar will offer a critical approach to capital requirements with a particular emphasis put on risk absorption capacity in the context of the new Capital Requirements Directive (CRD4) and the Financial Stability Board’s Total Loss Absorbing Capacity (TLAC) standard. Two alternative views of capital requirements will be lined out: the buffer view and the incentives view. As part of the webinar, the risk absorption potential of equity, bail-in debt and, Contingent Convertible Debt instruments (CoCos) will be explored.

Watch the recording 

Enrico Perotti (Ph.D. MIT) is Professor of International Finance at the University of Amsterdam, Member of the Scientific Committee of the Florence School of Banking and Finance and CEPR).
His advisory work has focused on policy advice on issues of banking, financial reforms and stability to the EC, ECB, IMF, DNB, Bank of England, the World Bank and the UK Treasury.

Mar
16
Wed
Contingent Convertible Debt Instruments (CoCos): regulatory use and market development
Mar 16 @ 1:00 pm – 2:00 pm
Contingent Convertible Debt Instruments (CoCos): regulatory use and market development

Webinar #2 with Enrico Perotti

This webinar will address the new regulatory treatment of Contingent Convertible Debt instruments and the development of the underlying CoCo bond markets. The contractual feature of the existing stock of CoCo debt will be analysed along various dimensions. First, in terms of their regulatory effectiveness in absorbing risk. Second, in terms of their impact on risk incentives and thus on their preventive effect. Third, we will look at the empirical evidence on the market response to their issuance. Finally, time allowing we will discuss the recent evolution on the CoCo bond market in terms of issuances and prices.

 Register here

 

Enrico Perotti (Ph.D. MIT) is Professor of International Finance at the University of Amsterdam, Member of the Scientific Committee of the Florence School of Banking and Finance and CEPR).
His advisory work has focused on policy advice on issues of banking, financial reforms and stability to the EC, ECB, IMF, DNB, Bank of England, the World Bank and the UK Treasury.

Apr
28
Thu
Filling the Gaps in Governance: The Case of Europe @ Sala Europa
Apr 28 all-day

The European University Institute (EUI), the Brevan Howard Centre at Imperial College together with BAFFI CAREFIN at Bocconi University are organising jointly a conference entitled “Filling the Gaps in Governance: The Case of Europe” to be held at the EUI in Florence on Thursday, April 28, 2016

The conference will bring together leading economists, lawyers, political scientists and policy makers to discuss the current economic situation in Europe with particular emphasis on the issue of filling the gaps or incompleteness in the agreements governing economic cooperation in Europe.  These agreements, implicit and explicit, range from matters such as the agreements about domestic debt/GDP levels, the “no bailout clause”, the new banking union, the use of a common currency, the agreement to include identical Collective Action Clauses in all Euro area sovereign bonds and so on.

Organisers:

Franklin Allen | Brevan Howard Centre Imperial College

Elena Carletti | BAFFI CAREFIN Bocconi University and European University Institute

Joanna Gray | Birmingham University

Mitu Gulati | Duke University

 

Read the programme

 

Previous Conferences

the-new-financial-architecture-in-the-eurozone 

The new financial architecture in the Eurozone

23 April 2015

CoverEuro2014

Bearing the Losses from Bank and Souvereign Default in the Eurozone

24 April 2014

interior

Political, Fiscal and Banking Union in the Eurozone?

25 April 2013

Cover-governancefortheeurozone 

Governance for the Eurozone: Integration or Disintegration?

26 April 2012

Cover-LifeintheEurozoneebook 

Life in the Eurozone with or without Sovereign Default?

14 April 2011

Apr
29
Fri
Eui-nomics 2016: Debating the Economic Conditions in the Euro Area and Beyond @ Sala Europa, Villa Schifanoia
Apr 29 @ 9:00 am – 10:00 pm

The EUI-nomics workshops provide a forum for discussion among academics and economists in public and private institutions about the current and expected future global economic conditions, with a special focus on the euro area and its member countries. For each country/area there will be short presentations by leading experts followed by general discussion. The workshops will be completed by a policy panel debating on key economic policy issues for the euro area.

See the programme

May
5
Thu
Stability of the Banking System @ Villa Schifanoia – Sala Europa
May 5 @ 9:00 am – 1:00 pm
Stability of the Banking System @ Villa Schifanoia – Sala Europa | Florence | Tuscany | Italy

As part of this year’s State of the Union conference in Florence, a workshop will discuss the stability of the banking system. The event will be hosted by Professor Richard Portes. He will be joined by the Florence School of Banking and Finance’s director Professor Elena Carletti. The event will conclude with a speech by Ignazio Visco, Governor of the Bank of Italy. 

More information available here

Jun
16
Thu
Financial Deregulation: A Historical Perspective @ Sala Europa, Villa Schifanoia
Jun 16 @ 2:00 pm – Jun 17 @ 1:30 pm

This conference will address the liberalisation of the financial sector that occurred towards the end of the 20th Century, with a particular focus on the 1980s. It will cover different countries and consider the emergence and persistence of a new regulatory paradigm until – or even after – the recent financial crisis.

In most rich countries, various measures have been passed in order to liberalise and “modernise” the financial markets. Each country had its own agenda, but each of them has experienced, to a various extent, a change in regulatory regime. Interest rates paid on deposits have been liberalised, competition has been favoured, traditional barriers between insurance, banking, and
financial market activities, have been removed, as well as exchange controls. Access to domestic markets by foreign financial institutions has been facilitated through reciprocal agreements or through an open door approach attracting foreign investors.
Financial deregulation – or liberalisation – has not yet been thoroughly examined by historians, though, because of the difficulty to access archival material for recent periods. However, such material is becoming increasingly accessible and allows historians to take a new look at the matter, particularly concerning the 1980s.

As major reforms of the financial sector, such as Basel III, are being widely debated today, it is important to take a broader and longer-term view, in order to understand if we are still living under the same regulatory regime as before, or if a truly new paradigm has emerged. We will address the relevance of the notion of “deregulation”, the links between the changes under consideration and globalisation, and the respective influence of market forces and politics in this process. These questions call for an interdisciplinary approach that not only looks at historical and economic aspects, but also addresses legal, conceptual, and political issues.

Organiser: Youssef Cassis

Download the programme

Jun
28
Tue
EUI Forum on Brexit @ Seminar Room 2, Badia Fiesolana
Jun 28 @ 11:00 am – 12:30 pm
EUI Forum on Brexit @ Seminar Room 2, Badia Fiesolana

The European University Institute Forum on Brexit with short contributions from Brigid Laffan, Gary Marks and Liesbet Hooghe.

Brigid Laffan is Director of the Robert Schuman Centre for Advanced Studies (RSCAS) at the EUI.

Gary Marks is a research professor in Multilevel Governance at the VU University Amsterdam and Burton Craige Distinguished Professor of Political Science at the University of North Carolina at Chapel Hill. Gary Marks is currently a Visiting Scholar at the RSCAS.

Liesbet Hooghe is the W. R. Kenan Jr. Professor of Political Science at the University of North Carolina at Chapel Hill. She also holds a research professorship in multilevel governance at the VU University Amsterdam. Liesbet Hooghe is currently a Visiting Scholar at the RSCAS.

Watch the Recording of the Conference

Jul
1
Fri
Online Seminar! After Brexit: what next for the EMU, UK and the EU? @ Online
Jul 1 @ 12:00 pm – 1:00 pm
Online Seminar! After Brexit: what next for the EMU, UK and the EU? @ Online

Europe has grown out of its crises when reason and solidarity have prevailed, but it has also been devastated by its crises when fear and nationalism have taken the lead. Brexit, in the aftermath of the euro crisis, brings this dichotomy back to the foreground. Since 2010 there have been important advances in the development of the Economic and Monetary Union (EMU) and flexible forms of participation have allowed other EU countries, reluctant to join the euro, to share the basic principles that define the EU and have a common presence in the interdependent global world.

Brexit raises 3 crucial questions:

  1. Should the EMU be accelerated to become a centre of gravity within the EU, or slowed down to avoid a centrifugal diaspora? If accelerated, how?
  2. Should an ‘exit’ country be allowed free entry to the single market and other EU public goods without accepting freedom of movement?
  3. Should the EU remain as it is, or increase its capacity to offer common public services (Banking Union, border security, research funding, environment, etc.), or limit its scope of activity to the EU single and integrated market?

Panelists:

Joaquín Almunia (Former vice-president of the European Commission)
Ramon Marimon (European University Institute and UPF – Barcelona GSE; ADEMU)
Gorgio Monti (European University Institute; ADEMU)
Morten Ravn (University College London; ADEMU)

Moderator:
Annika Zorn (European University Institute, Florence School of Banking & Finance)

The event is jointly organised by the Florence School of Banking & Finance, Pierre Werner Chair and ADEMU Project.

Watch the recording

Jul
14
Thu
Executive Seminar on Banking Resolution @ Florence
Jul 14 – Jul 15 all-day
Executive Seminar on Banking Resolution @ Florence | Florence | Tuscany | Italy

On the 14-15 of July, the Florence School of Banking & Finance will hold an executive seminar on banking resolution. The aim of this Chatham House seminar will be to discuss, in the presence of senior decision-makers from the European Central Bank, the European Commission, the Single Supervisory Mechanism, the European Banking Authority and the Single Resolution Board the implications for regulators and financial institutions alike of the newly established banking resolution regime. Distinguished academics and senior practitioners from financial institutions have also confirmed their participation. 

Download the programme

This is a closed event.