Conference: Financial markets and banks: safe and long term?
04.12.2014: Berlin, 9:00-17:30, Organized by Finance Watch, German Trade Union Federation (DGB), WEED, Friedrich Ebert Foundation and others
4 December 2014, 9:00-17:30, Berlin at the Friedrich-Ebert Stiftung (Hiroshimastraße)
Organizers: Finance Watch; German Trade Union Federation (DGB); Federation of German Consumer Organisations (vzbv); World Economy; Ecology & Development (WEED); Friedrich Ebert Foundation.
Languages: German + English
Dear Madam, dear Sir,
the financial reforms of the past years aimed at making banks and fi nancial markets safer and to protect citizens from future crises. The conference is an opportunity to debate how much has been achieved since the crisis, and to discuss plans for the future.
Banking regulation has focused on improving the loss absorbency capacity of banks and on limiting activities that are too risky. Basel 3 and its translation in EU and national law have set higher capital requirements for banks. Bail-in mechanisms aim at making banks'creditors absorb losses before taxpayers are put on the line. Additional regulations on banking structure have been developed - or are in the making. Will these regulations make banks safer? And will they help refocusing banks on serving the real economy?
Insufficient or inadequate supervision has been one of the key reasons for the fi nancial crisis. To improve pan-European riskassessment, take into account negative cross-border externalities of risk-taking and make cross-border banking resolution possible, the EU established a Single Supervisory Mechanism complemented by a Single Resolution Mechanism. Can supervisors now effectively deal with large and complex banks and are citizens protected from the adverse consequences of a bank failure?
Looking forward, and in the current context of economic stagnation, the EU and its Member States make it one of their key priorities to promote long-term growth and job creation. Promoting capital market financing is considered as central to fostering investment and shall particularly improve financing of SMEs and infrastructure. Is this the right answer to today‘s structural problems? Does it pose risks to investors, the fi nancial system, and society at large?
Capital markets tend to foster short term thinking, often contradicting socially responsible behaviour from corporations and prosperity in the long-run. On the other hand, long-term projects and stable funding for the real economy require long-term commitment from lenders and investors. Can capital markets appropriately meet the long-term financing needs of society and the real economy? What are those needs, and what channel would be most effective to fund them: (public) banks, capital markets, or the state?
We would like to invite you on 4 December 2014 to discuss these questions with leading experts at a conference at the Friedrich-Ebert-Stiftung in Berlin. If you would like to attend, please register until 27 November 2014 via e-mail or fax at the Friedrich-Ebert-Stiftung. Your registration will not be confirmed.
Confirmed speakers and panellists:
Mr Andrä Gärber, Head of Division of Economic and Social Policy, Friedrich-Ebert-Stiftung
Mr Benoît Lallemand, Acting Secretary General, Finance Watch
Mr Martin Hellwig, Director, Max-Planck-Institute for the Research on Collective Goods
Mr Michael Kemmer, General Manager and Board Member, German Banking Association
Mr Íñigo Arruga Oleaga, Senior Legal Counsel, European Central Bank
Ms Paulina Przewoska, Senior Policy Analyst, Finance Watch
Mr Steffen Kampeter, Parliamentary State Secretary, Federal Ministry of Finance
Ms Danièle Nouy, Head of the Single Supervisory Mechanism, European Central Bank
Mr Ludger Schuknecht, Head of Directorate General on Economic and Fiscal Policy Strategy, International Economy and Finance, Federal Ministry of Finance
Mr Arnoud W.A. Boot, Professor of Corporate Finance and Financial Markets, University of Amsterdam
Mr Peter Wahl, Chairman of the Board, World Economy, Ecology & Development
Mr Martin Merlin, Director, Financial Markets Directorate General, European Commission
Ms Daniela Gabor, Associate Professor, University of the Westengland
Mr Alexander Barthel, Head of Division on Economic Policy, German Confederation of Skilled Crafts
Mr Klaus Müller, Executive Director, Federation of German Consumer Organisations
Mr Stefan Körzell, Member of the Executive Committee, German Trade Union Confederation
Mr Udo Bullmann, Member of the European Parliament and the ECON committee, SPD / S&D
Mr Gerhard Schick, Member of the German Parliament and vice-chair of the Finance Committee, Alliance 90 / Greens
Mr Markus Ferber, Member of the European Parliament and vice-chair of the ECON committee, CSU / EPP
Mr Harald Schumann, Der Tagesspiegel