Calendar
On 10 July the Florence School of Banking & Finance will organise a high-level debate with the European Supervisory Heads for the European Banking Authority (EBA) in Budapest, during the annual Away-day of the Board of Supervisors. The day before, on 9th July, Elena Carletti, Scientific Director of the school and Annika Zorn will attend the EBA Management Board Meeting.
The European Banking Authority (EBA), is the EU institution that brings together the banking supervisors and regulators of the EU. http://www.eba.europa.eu/
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
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
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
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
Previous Conferences
|
The new financial architecture in the Eurozone 23 April 2015 |
Bearing the Losses from Bank and Souvereign Default in the Eurozone 24 April 2014 |
Political, Fiscal and Banking Union in the Eurozone? 25 April 2013 |
Governance for the Eurozone: Integration or Disintegration? 26 April 2012 |
Life in the Eurozone with or without Sovereign Default? 14 April 2011 |
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.
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.
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