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Oct
5
Mon
The Italian Contribution to the Debate on the Future of the Governance of the Euro by Marco Piantini @ Sala del Capitolo, Badia Fiesolana
Oct 5 @ 2:15 pm – 4:15 pm

The depth of the economic and financial crisis and its long-lasting impact highlight fundamental unresolved issues related to the incompleteness of the Economic and Monetary Union, despite important steps forward made in response to the crisis. In addition, disaffection in the European project is widespread among citizens and it is leading to the rise of populist political forces. The current upswing in growth rates, albeit modest, is likely to trigger complacency in national governments and European institutions with the risk of deepening the divide with citizens still heavily affected by the legacy of the crisis in terms of unemployment, poverty and rising inequalities.

Against this background, the Union is at a crossroad between muddling through and facing with determination the new challenges: restore growth potential, foster a job-rich sustained growth in a stable macroeconomic environment and rebuild the relationship between European institutions and European citizens. The launch by the Commission of a multi-annual European investment plan and the definition of adequate incentives for investment and reforms are positive important steps in this direction, especially in the framework of a growth-friendly fiscal policy. However, the urgency and complexity of the issues at stake call for a more ambitious policy mix involving fiscal, structural, social and monetary policies.

Marco Piantini, adviser for European Affairs to the Italian Prime Minister, recently acted as coordinator of the Italian position on the crisis of the Eurozone and other institutional matters. He is a former adviser to President Napolitano and a staff member at the European Parliament.

Organiser: Brigid Laffan – EUI – Robert Schuman Centre for Advanced Studies and Global Governance Programme

Speaker: Marco Piantini

 

Register for the event

 

Oct
8
Thu
ADEMU Kick-Off Conference on Reassessing the EU Monetary and Fiscal Framework @ University of Cambridge
Oct 8 – Oct 9 all-day
ADEMU Kick-Off Conference on Reassessing the EU Monetary and Fiscal Framework @ University of Cambridge | United Kingdom

Conference venue: Corpus Christi College (www.corpus.cam.ac.uk).
The specific room will be the McCrum Lecture Theatre.

Registration deadline is 25 September, 2015

 

View the Conference Program

 

Thursday, October 8

13:00–13:10 | Welcome Address

  • Ramon Marimon, European University Institute, UPF–Barcelona GSE & CEPR

13:10–14:40 | Long-term sustainability of a monetary and fiscal union (WP1)

  • Chair: Jurgen Von Hagen, University of Bonn
  • Charlie Brendon, University of Cambridge
  • Giancarlo Corsetti, University of Cambridge
  • Árpád Ábrahàmand and Ramon Marimon, European University Institute
  • Jesus Fernandez-Villaverde, University of Pennnsylvania

15:00–16:30 | Stabilisation policy in currency unions (WP2)

  • Chair: Evi Pappa, European University Institute
  • Pedro Teles, Universidade Católica Portuguesa & Bank of Portugal
  • Morten Ravn, University College London
  • Franck Portier, Toulouse School of Economics
  • Martin Uribe, Columbia University

16:30–18:00 | Round Table: “What type of Fiscal Union?”

  • Moderator: Isabel Correia, Universidade Católica Portuguesa & Bank of Portugal
  • Joaquín Almunia, Former Vice President of the European Commission
  • José Manuel Campa, Grupo Santander and IESE Business School
  • Eilis Ferran, University of Cambridge
  • John Hassler, Stockholm University and Swedish Fiscal Policy Council
  • Coen Tuelings, University of Cambridge

Friday, October 9

09:00–10:30 | Macroeconomic and financial imbalances and spillovers (WP3)

  • Chair: Thomas Hintermaier, University of Bonn
  • Radim Bohacek, CERGE
  • Christian Hellwig, Toulouse School of Economics
  • Joachim Jungherr, IAE-CSIC and Barcelona GSE
  • Philip Lane, Trinity College Dublin

11:00–12:00 | Keynote Address

  • Herman Van Rompuy, Former President of the European Council

13:30–15:30 | Policy Implementation (WP4)

  • Chair: Marek Kapicka, CERGE
  • David Levine and Thomas Beukers, European University Institute
  • Giorgio Monti, European University Institute
  • Chris Bickerton, University of Cambridge
  • Kenneth Armstrong, University of Cambridge

16:00–16:20 | ADEMU activities, organisation and dissemination (WP5 & WP6)

  • Hugo Rodriguez, IAE–CSIC and Barcelona GSE

16:20–18:20 | Round Table: “Strengthening the EMU in the aftermath of the Greek crisis”

  • Moderator: Richard Portes, London Business School, EUI & CEPR
  • Sir Charles Bean, LSE and former Deputy Governor of the Bank of England
  • Thomas Cooley, New York University – Stern Business School
  • Lucrezia Reichlin, London Business School & CEPR
  • Frank Smets, European Central Bank
  • René Smits, University of Amsterdam
  • Zdeněk Tůma, KPMG and former Governor of the Czech National Bank

 

Conference Registration

Oct
22
Thu
Legal and Institutional Dimensions of EMU (Intensive workshop) @ Sala Triaria, Villa Schifanoia
Oct 22 @ 9:30 am – 5:00 pm

FIRST TERM

6 credits

Professors Claire KILPATRICK and Giorgio MONTI

Kilpatrick GiorgioMonti

Workshop description:

An intensive workshop on October 22 and 23 2015 with three hour sessions on each of the following four themes.

  1. Conditions posed to legal change in reaction to the Eurozone crisis at both EU and national level (such as competence constraints, fundamental rights limits)
  2. Legal aspects of the overall new EMU package (e.g. Macro-economic Imbalance Procedure, Excessive Deficit Procedure, Broad Economic Policy Guidelines)
  3. Legal aspects of risk-sharing mechanisms (e.g. European Stability Mechanism, prospects for Euro-bonds)
  4. Legal aspects of banking union (emphasis on: Single Supervisory Mechanism, Single Resolution Mechanism, deposit insurance)

Participants will explore issues of EU legal and institutional design within the specific and dynamic area of EMU and the closely related area of banking union. Sessions on each of the four themes will be moderated by a mixture of invited externals and EUI Faculty. Materials will be circulated by Thursday 1 October to allow time to have thoroughly read and prepared in advance of the intensive seminar. A key goal is to clearly understand and articulate how legal design issues interact with EU economic and monetary policy objectives. To this end each seminar participant will prepare a brief (5 page) policy statement which sets out the legal issues of one of the four issues above in ways comprehensible to non-lawyers. This will be submitted by Tuesday 3 November at midday to Laurence.duranel@eui.eu. Feedback will be provided on each seminar participant’s policy statement.

This seminar forms part of an EUI-led project on A Dynamic Economic and Monetary Union involving the Law and Economics Departments and funded by Horizon 2020. Policy statements will be presented by Law Faculty to Economists participating in the project on Friday 11 and Saturday 12 December 2015. Seminar participants are welcome to attend.

Each day of the seminar will be comprised of two sessions: from 9:00 to 12:30 and from 14:00 to 17:00 hours.

Workshop materials (stand by for updates):

Session 1
Session 2
Session 3
Session 4
Nov
4
Wed
Market Risk regulatory developments. Joint training with European Banking Authority @ EBA premises - Picasso Room
Nov 4 – Nov 5 all-day
Market Risk regulatory developments. Joint training with European Banking Authority @ EBA premises - Picasso Room | London | United Kingdom

The objective of the training seminar is to improve participants’ knowledge of the latest regulatory developments, both at Basel and EU levels, in the area of Market Risk, CVA and Market Infrastructure. The seminar is organised by the EBA jointly with the Florence School of Banking and Finance (European University Institute). Apart from the Regulator’s point of view on these topics, the seminar will also provide the Academic and Industry perspective on CVA and Market Infrastructure regulatory developments.

Download the programme

Dec
7
Mon
1st Advisory Council meeting @ Sala del Capitolo at Badia Fiesolana
Dec 7 @ 12:00 pm – 5:00 pm
1st Advisory Council meeting @ Sala del Capitolo at Badia Fiesolana | Toscana | Italy

On 7th December the Florence School of Banking & Finance will hold its first Advisory Council meeting.

The Advisory Council of the school is composed of Andrea Enria (Chairperson European Banking Authority), Frank Smets (Advisor Mario Draghi European Central Bank), Ignazio Angeloni (Board Member Single Supervisory Mechanism), Mauro Grande (Board Member Single Resolution Board) and Francesco Mazzaferro (Head of Secretariat European System Risk Board), as well as the new Director General at DG FISMA (EC) Olivier Guersent.

The purpose of the meeting will be to discuss the school’s activities in its first year, as well as to start the development of a European curriculum for professionals working in the Banking & Finance sector on topics of regulation and supervision.

 

This is a closed event.

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

Jan
29
Fri
Eurovision? The Initial Period of Europe’s Monetary Union @ Historical Archives of the European Union
Jan 29 @ 8:45 am – 1:00 pm

eabh Conversation on the record

 

The European Monetary Union and the introduction of the Euro in 1999 were unexpected achievements without precedent. At the initial period of the European Monetary Union the Community had high hopes and expectations. What happened to the hopes and objectives of the Treaty of Maastricht? Have some of them come true?  Which crucial turning points or decisions in the history of the Union should and could be revised in order to avoid the mistakes of the past?

Let’s talk about it!

Read the programme

Register for the event

Feb
12
Fri
Signing ceremony: Ente Cassa di Risparmio di Firenze – The EUI signs the founding agreement of the Florence School of Banking and Finance
Feb 12 @ 11:30 am – 1:30 pm
Signing ceremony: Ente Cassa di Risparmio di Firenze – The EUI signs the founding agreement of the Florence School of Banking and Finance

The Florence School of Banking and Finance is very happy to announce the signing ceremony with the school’s founding donor Ente Cassa di Risparmio di Firenze. The agreement between Ente CR and the EUI will be signed on 12th February 2016, in Firenze, by the President of the Ente Cassa di Risparmio di Firenze, Umberto Tombari, and the president of the European University Institute (EUI), Joseph H.H.Weiler, launching the opening of the school. Prof Elena Carletti, the Scientific Director of the school, will also attend the signing ceremony.

 

 

Articles about the launch of the Florence School of Banking and Finance at the EUI:

«All’Europa serve immaginazione»,  Corriere Imprese, 15 February 2016.

A Firenze la scuola per dirigenti bancari, ManagerOnline, 15 February 2016.

Nasce la scuola per dirigenti bancari, QuiNews, 14 February 2016.

Nasce a Firenze la Florence School of Banking & Finance, La Discussione, 14 February 2016.

Nasce a Firenze la superscuola per formare i dirigenti bancari, Repubblica Firenze, 13 February 2016.

Alla Badia Fiesolana nasce la scuola delle regole per l’Europa, Corriere Fiorentino, 13 February 2016.

Nasce a Firenze la “Florence School of Banking & Finance”, STAMP Toscana, 12 February 2016.

E’ NATA LA FLORENCE SCHOOL OF BANKING & FINANCE: FORMERÀ I DIRIGENTI PER BANCHE E FINANZA, Firenze Post, 12 February 2016.

Banche, nuova scuola per professionisti, ANSA, 12 February 2016.

Nasce a Firenze la scuola europea di banca e finanza, Toscana 24, 12 February 2016.

Nasce a Firenze la “Florence School of Banking & Finance”, Ente Cassa di Risparmio di Firenze, 12 February 2016.

Nasce la scuola di banca e finanza: ‘’Un respiro internazionale per un nuovo modello di Fondazione’’, gonews.it, 12 February 2016.

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.