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Past Event

Banking crises, financial stability and state aid: the experience so far

The decision made in 2012 to take steps towards the formation of a European banking union raises major questions about the instruments needed to address the problems posed by mismanaged banks while preserving financial stability. This workshop contributed to the policy debate about the next steps beyond the creation of a Single Supervisory Mechanism, starting […]

Date: Mar 8 - Topic: European Macroeconomics & Governance

The decision made in 2012 to take steps towards the formation of a European banking union raises major questions about the instruments needed to address the problems posed by mismanaged banks while preserving financial stability. This workshop contributed to the policy debate about the next steps beyond the creation of a Single Supervisory Mechanism, starting from the important experience represented by the European Commission’s control of state aid in bank restructuring.

Event materials

Programme

9:00 Welcome by Jean-Claude Trichet, Chairman of Bruegel

9:05 Opening address by Joaquin Almunia, Vice-President of the European Commission

9:20-10:00 Panel presentations

  • Gert-Jan Koopman, Director for State Aid, European Commission DG COMP
  • Peter Praet, Member of the Executive Board, European Central Bank
  • Hans Vijlbrief, Treasurer-General, Dutch Ministry of Finance

10:00-10:45 Interactive discussion moderated by Nicolas Véron, Senior Fellow, Bruegel

Additional confirmed participants include:

  • Michelle Brennan, EMEA Financial Services Criteria Officer, Standard & Poor’s
  • Peter Brierley, Special Resolutions Unit, Bank of England;
  • Nadia Calvino, Deputy Director-General, European Commission / DG MARKT
  • Vittorio Di Bucci, European Commission / Legal Service;
  • Carlos Egea, Credit Strategist, Morgan Stanley
  • Gene Frieda, Global Strategist, Moore Capital;
  • Juan Guitard, Director General Internal Audit, Santander
  • Alexander Italianer, Director General, DG COMP;
  • Justin Knight, European Rates Strategist, UBS;
  • Hans-Helmut Kotz, Senior Fellow, Center for Financial Studies Frankfurt;
  • Philippe Lespinard, Chief Investment Officer Fixed Income, Schroders;
  • Mark MacGann, Senior Vice President, Head of Government Affairs and Public Advocacy Member of the European Management Team
  • Rainer Münz, Head of research & Development, Erste Group;
  • Erik Nielsen, Global Chief Economist, UniCredit;
  • Jernej Omahen, Head of European Financials Research, Goldman Sachs
  • Javier Perez, European Regional President, MasterCard;
  • Jean Pisani-Ferry, Director, Bruegel;
  • André Sapir, Senior Fellow, Bruegel;
  • René Smits, Professor of Law, University of Amsterdam;
  • Isabelle Vaillant, Director Regulations, European Banking Authority
  • Francois Villeroy de Galhau, Chief Operating Officer, BNP Paribas
  • Alastair Wilson, Chief Credit Officer Europe, Moody’s Investor Service;
  • Guntram Wolff, Deputy Director, Bruegel

Practical details


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Book/Special report

Bruegel annual report 2018

The Bruegel annual report provides a broad overview of the organisation's work in the previous year.

By: Bruegel Topic: Energy & Climate, European Macroeconomics & Governance, Finance & Financial Regulation, Global Economics & Governance, Innovation & Competition Policy Date: May 16, 2019
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Past Event

Past Event

CANCELLED: Future of taxation in the EU

Due to a previously unannounced air traffic controllers strike in Belgium, the Prime Minister Morawiecki is unable to land in time for the event. We apologise for any inconvenience.

Speakers: Marie Lamensch, Mateusz Morawiecki and Guntram B. Wolff Topic: European Macroeconomics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: May 16, 2019
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Upcoming Event

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Speakers: Andrew Duff, John Erik Fossum, Paweł Karbownik and Guntram B. Wolff Topic: European Macroeconomics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels
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Blog Post

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The discussions of the now-aborted merger of Germany’s two largest banks underlined supervisors’ concerns over creating banks that are too big or too complex to fail. While European banks are increasingly funded through securities that could be subject to a bail-in, transparency over how any resolutions would unfold is as yet very poor.

By: Alexander Lehmann Topic: Finance & Financial Regulation Date: May 15, 2019
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Germany is having a political debate on the adjustment of its budgetary plans due to revised forecasts, and an academic debate on the debt brake. Yet, since 2011, general government revenues and surpluses have been systematically and significantly higher than forecast. The German surplus reached 1.7% of GDP in 2018. This bias did not exist from 1999-2008 before the introduction of the debt brake. While the IMF also got its forecasts of German surpluses wrong, the extent of the bias is larger for the German government’s forecasts. These data suggest that the political debate should focus on the debt brake and its implementation rather than on how to close the budgetary ‘hole’.

By: Catarina Midoes and Guntram B. Wolff Topic: European Macroeconomics & Governance Date: May 13, 2019
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Upcoming Event

May
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What can Ukraine do to foster economic growth? How can the EU and other international partners help Ukraine with this process?

Speakers: Olena Carbou, Marek Dabrowski, Elena Flores, Ivan Miklos and Hlib Vyshlinsky Topic: European Macroeconomics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels
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What are the different political visions for the future of Europe’s economy? Bruegel and the Financial Times organised a debate series with lead candidates from six political parties in the run-up to the 2019 European elections.

By: Giuseppe Porcaro Topic: European Macroeconomics & Governance, Global Economics & Governance, Innovation & Competition Policy Date: May 8, 2019
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Upcoming Event

Jun
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Speakers: Maria Demertzis, Gita Gopinath and Guntram B. Wolff Topic: European Macroeconomics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels
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Opinion

When facts change, change the pact

“When facts change, I change my mind,” John Maynard Keynes famously said. With long-term interest rates currently near zero, the European Union should reform its fiscal framework to allow member states to increase their debt-financed public investments.

By: Jean Pisani-Ferry Topic: European Macroeconomics & Governance Date: May 1, 2019
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Blog Post

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Since their accession to the EU 15 years ago, the incomes of most central Europeans have increased faster than the incomes of longer-standing members and, thereby, they moved upwards in the EU distribution of income. Yet the very poorest people have not progressed in some countries.

By: Zsolt Darvas Topic: European Macroeconomics & Governance Date: April 30, 2019
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Podcast

Podcast

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Bruegel fellows Rebecca Christie and Nicolas Véron discuss how the map of the EU's financial services industry has begun to change, and how it might eventually settle.

By: The Sound of Economics Topic: Finance & Financial Regulation Date: April 30, 2019
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Past Event

Past Event

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How can finance help save the planet?

Speakers: Rebecca Christie, Pascal Coret, Mario Nava and Dirk Schoenmaker Topic: Finance & Financial Regulation Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: April 30, 2019
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