After The Storm: The Future Face of Europe's Financial System

Conference co-organized by the IMF, Bruegel, and the National Bank of Belgium
National Bank of Belgium Auditorium,
Warmoesberg 61, B-1000 Brussels, Belgium
March 24, 2009

While the financial crisis continues to rage, policymakers and market participants around the world are contemplating what kind of financial system will emerge from it, and what impact public policies may have. Much is under discussion: the incentive structures of financial sector professionals, the premises underlying regulation and supervision, and the global financial architecture. In Europe, the crisis has delivered significant setbacks to the ambition of creating a single EU financial market. Meanwhile, Europe’s financial stability arrangements have been pushed to the top of the policy agenda, notably with the publication of the report of the Larosière Group.

The International Monetary Fund, Bruegel, and the National Bank of Belgium teamed up to provide a platform to debate what public policies are needed to achieve a better performing and more stable financial system in Europe. This formed the agenda of a conference held on March 24 in Brussels, with the participation of leading policymakers, academics, and financial sector representatives, as well as several members of the Larosière Group (Please see the programme below for more details).

The conference was intended for policymakers, journalists, academics, financial sector professionals and others with an interest in EU financial sector policy.


March 24, 2009
Moderation: Wolfgang Münchau, Eurointelligence
9:30 am-10:00 am Opening Comments
Marek Belka (IMF), Jean Pisani-Ferry (Bruegel) and Peter Praet (NBB)
10:00 am-12:00 pm Discussion of the De Larosière Report
This session will debate the reform proposals of the Larosière Group (LG) for Europe's supervisory arrangements.

Leszek Balcerowicz (Chairman of Bruegel and LG member); Marek Belka (Head of European Department, IMF); José Pérez Fernandez (Chairman of Intermoney and LG member); Rainer Masera (Advisor to the EIB and LG member); Freddy Van den Spiegel (Chief Economist, Fortis); David Wright (European Commission, DG Markt and LG Rapporteur)
12:00 pm Lunch
1:00 pm-2:00 pm Policy Panel 1: The Crisis’ Lessons for EU Financial Services and Competition Policy
André Bergen (CEO, KBC Group); Erik Berglof (Chief Economist, EBRD); Jan Pieter Krahnen (Director, Centre for Financial Studies)
2:00 pm-3:00 pm Policy Panel 2: The Crisis’ Lessons for EU Financial Supervisory Policy
Jan Brockmeijer (Deputy Director, Monetary and Capital Markets Department, IMF); Malcolm Knight (Vice Chairman, Deutsche Bank Group); Alexandre Lamfalussy; Lucas Papademos (Vice President, European Central Bank)
  Wrap-up/Concluding remarks