Past Event

The outlook for European financial centres

This event organised jointly by Bruegel, the Malta Financial Services Authority, and the Maltese Ministry for Finance will discuss the outlook for European Financial Centres.

Date: January 16, 2017, 9:00 am Topic: Finance & Financial Regulation

The 2008 banking crisis has severely shaken financial centres. The crisis was a multi-facetted systemic failure – in products, supervision and corporate governance. Solutions to these problems are not straightforward. A future crises, of a different character from the past, will still occur through threats and vulnerabilities. The norm therefore should be for a well-regulated financial sector, supporting economic growth in good times, but with built-in support systems that are well designed to resist shocks and contagion in bad times. This is important so that the banking system and financial markets can readily deliver faster growth with stability.

Financial services provide support for households, businesses and governments and increasing the potential for trade-led growth and investment throughout the EU economies. This is in line with the aspirations for the Europe 2020 strategy – both tapping the potential of the Single Market and attracting private capital to finance growth.

In a world of increasingly mobile capital and talent, financial centres need to be deep and concentrated so as to establish regional advantage as business hubs, conduits for capital flows and pools of expertise and innovation. Within the EU, finance centres provide substantial direct benefits in terms of tax revenue, export earnings, employment and capital flows.

Presentation by Georg Ringe

Presentation by William Wright

Schedule

Jan 16, 2017

08.30 - 09.15

Registration

09.15 - 09.30

Introductory remarks

Nicolas Véron, Senior Fellow

09.30 – 10.00

Presentation

William Wright, Managing director - New Financial LLP

10.00 - 10.30

Presentation

Georg Ringe, Professor, Copenhagen Business School

10.30 – 11.00

Coffee Break

11.00 - 12.30

Panel Session on European Financial Centres

Chair: Nicolas Véron, Senior Fellow

Juanita Bencini, Chairperson, Institute for Financial Services

J Portelli, Chairman, Malta Stock Exchange

Georg Ringe, Professor, Copenhagen Business School

William Wright, Managing director - New Financial LLP

12.30

Closure

J V Bannister, Chairman, MFSA

Speakers

J V Bannister

Chairman, MFSA

Juanita Bencini

Chairperson, Institute for Financial Services

J Portelli

Chairman, Malta Stock Exchange

Georg Ringe

Professor, Copenhagen Business School

Nicolas Véron

Senior Fellow

William Wright

Managing director - New Financial LLP

Location & Contact

The Xara Lodge, Rabat, Malta


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