DOCSLIB.ORG

Pdfroster of Attendees

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Pdfroster of Attendees The Participants SHAGHIL AHMED PETER BARNES Chief of Emerging Market Economies Senior Washington Correspondent Board of Governors of the Fox Business News Federal Reserve System ERDEM BAŞÇI SINAN ALSHABIBI Governor Governor and Chairman Central Bank of the Central Bank of Iraq Republic of Turkey BINYAMIN APPLEBAUM CHARLES R. BEAN Correspondent Deputy Governor The New York Times Bank of England JEANNINE AVERSA STEVEN K. BECKNER Reporter Senior Correspondent Bloomberg News Market News International ALAN D. BARKEMA FRED BERGSTEN Senior Vice President and Director Director of Research Peterson Institute for Federal Reserve Bank of Kansas City International Economics MARTIN BARNES NILS BERNSTEIN Chief Economist Governor BCA Research Danmarks Nationalbank 467 468 The Participants ALAN S. BLINDER LUC COENE Professor Governor Princeton University National Bank of Belgium SARAH BLOOM RASKIN LU CÓRDOVA Governor Chief Executive Officer Board of Governors of the Corlund Industries Federal Reserve System CARLOS DA SILVA COSTA ALAN BOLLARD Governor Governor Bank of Portugal Reserve Bank of New Zealand PAUL DEBRUCE LAEL BRAINARD Chief Executive Officer and Founder Under Secretary for DeBruce Grain, Inc. International Affairs U.S. Department of the Treasury SERVAAS DEROOSE Deputy Director-General JAMES B. BULLARD European Commission President and Chief Executive Officer Federal Reserve Bank of St. Louis LUCA DI LEO Journalist MICHELE BULLOCK Dow Jones Newswires Assistant Governor Reserve Bank of Australia WILLIAM C. DUDLEY President and Chief Executive Officer MARK CARNEY Federal Reserve Bank of New York Governor Bank of Canada ELIZABETH A. DUKE Governor AGUSTÍN CARSTENS Board of Governors of the Governor Federal Reserve System Bank of Mexico DOUGLAS W. ELMENDORF NORMAN CHAN Director Chief Executive Congressional Budget Office Hong Kong Monetary Authority The Participants 469 WILLIAM B. ENGLISH AUSTAN GOOLSBEE Director of Monetary Affairs Professor Board of Governors of the University of Chicago Federal Reserve System MÁR GUDMUNDSSON MARTIN FELDSTEIN Governor President Emeritus, National Bureau Central Bank of Iceland of Economic Research Professor, Harvard University ANGEL GURRÍA Secretary-General MARK FELSENTHAL Organisation for Economic Correspondent Co-operation and Development Reuters PENTTI HAKKARAINEN CAMDEN FINE Deputy Governor President and Chief Executive Officer Bank of Finland Independent Community Bankers of America CRAIG S. HAKKIO Senior Vice President and STANLEY FISCHER Special Advisor on Economic Policy Governor Federal Reserve Bank of Kansas City Bank of Israel ROBIN HARDING JACOB A. FRENKEL U.S. Economics Editor Chairman Financial Times JPMorgan Chase JAN HATZIUS ESTHER L. GEORGE Chief Economist First Vice President and Goldman, Sachs & Co. Chief Operating Officer Federal Reserve Bank of Kansas City PHILIPP M. HILDEBRAND JOSÉ MANUEL GONZÁLEZ- Chairman PÁR AMO Swiss National Bank Executive Board Member European Central Bank JON HILSENRATH Chief Economics Correspondent The Wall Street Journal 470 The Participants THOMAS M. HOENIG CHOONGSOO KIM President and Chief Executive Officer Governor Federal Reserve Bank of Kansas City The Bank of Korea PATRICK HONOHAN KLAAS KNOT Governor President Central Bank of Ireland De Nederlandsche Bank N.V. R. GLENN HUBBARD EDWARD S. KNOTEK II Dean and Russell L. Carson Professor Vice President and Economist of Finance and Economics Federal Reserve Bank of Kansas City Graduate School of Business, Columbia University DONALD L. KOHN Senior Fellow STEFAN INGVES Brookings Institution Governor Sveriges Riksbank GEORGE KOPITS Professor NEIL IRWIN Central European University National Economy Correspondent The Washington Post JEAN-PIERRE LANDAU Deputy Governor IVAN ISKROV Bank of France Governor Bulgarian National Bank JONG KUN LEE Chief Representative EUGENE KANDEL Bank of Korea, New York Head of the National Representative Office Economic Council Israel Prime Minister’s Office MICKEY D. LEVY Chief Economist ELIAS LESETJA KGANYAGO Bank of America Deputy Governor South African Reserve Bank STEVE LIESMAN Senior Economics Reporter CNBC The Participants 471 JUSTIN YIFU LIN ZANNY MINTON BEDDOES Senior Vice President and Economics Editor Chief Economist The Economist The World Bank RAKESH MOHAN LAWRENCE LINDSEY Professor President and Chief Executive Officer Yale University The Lindsey Group ALBERTO G. MUSALEM JOHN LIPSKY Managing Director and Partner First Deputy Managing Director Tudor Investment Corporation International Monetary Fund EWALD NOWOTNY DENNIS P. LOCKHART Governor President and Chief Executive Officer Central Bank of the Federal Reserve Bank of Atlanta Republic of Austria PHILIPPA MALMGREN PAUL F. O’BRIEN President Head of Fixed Income Strategy Principalis Asset Management Abu Dhabi Investment Authority MIKE MCKEE ØYSTEIN OLSEN Economics Editor Governor Bloomberg Television Norges Bank ALLAN H. MELTZER ATHANASIOS ORPHANIDES Professor Governor Carnegie Mellon University Central Bank of Cyprus R AVI MENON GUILLERMO ORTIZ Managing Director Former Governor Monetary Authority of Singapore Bank of Mexico YVES MERSCH SANDRA PIANALTO Governor President and Chief Executive Officer Central Bank of Luxembourg Federal Reserve Bank of Cleveland 472 The Participants CHARLES I. PLOSSER JOHN SILVIA President and Chief Executive Officer Chief Economist Federal Reserve Bank of Philadelphia Wells Fargo JAMES POTERBA ANDRÁS SIMOR President Governor National Bureau of Economic The Central Bank of Hungary Research ALLEN SINAI PETER PRAET Chief Global Economist Executive Board Member Decision Economics, Inc. European Central Bank MIROSLAV SINGER DIANE M. RALEY Governor Senior Vice President and Czech National Bank Public Information Officer Federal Reserve Bank of Kansas City MICHELLE A. SMITH Assistant to the Board and MARTIN REDRADO Division Director Professor of International Economics Board of Governors of the Federal Catholic University of Buenos Aires Reserve System HARVEY ROSENBLUM DEJAN ŜOŠKIĆ Executive Vice President and Governor Director of Research National Bank of Serbia Federal Reserve Bank of Dallas DANIEL G. SULLIVAN ROBERTO SALINAS-LEÓN Executive Vice President and President Director of Research Mexico Business Forum Federal Reserve Bank of Chicago HAROUTIOUN SAMUELIAN DIANE SWONK Vice Governor Chief Economist Central Bank of Lebanon Mesirow Financial MASAAKI SHIRAKAWA JOHN B. TAYLOR Governor Professor, Stanford University Bank of Japan Senior Fellow, Hoover Institution The Participants 473 ALEXANDRE ANTONIO DAVID WILCOX TOMBINI Director, Division of Research Governor and Statistics Central Bank of Brazil Board of Governors of the Federal Reserve System JOSEF TOŠOVSKỲ Chairman, Financial Stability JOHN C. WILLIAMS Institute President and Chief Executive Officer Bank for International Settlements Federal Reserve Bank of San Francisco UMAYYA S. TOUKAN PAUL WISEMAN Former Governor Reporter Central Bank of Jordan The Associated Press JOSÉ DARÍO URIBE ESCOBAR RICH WOBBEKIND Governor President Central Bank of Colombia National Association for Business Economics JULIO VELARDE Governor YUTAKA YAMAGUCHI Central Reserve Bank of Peru Senior Economic Adviser Nomura Holdings, Inc. KEVIN M. WARSH Distinguished Visiting Fellow JANET YELLEN Stanford University Vice Chair Board of Governors of the AXEL A. WEBER Federal Reserve System Professor University of Chicago NIU YU Deputy Representative, JENS WEIDMANN Office of the Americas President People’s Bank of China Deutsche Bundesbank KEI-MU YI Senior Vice President and MEREDITH WHITNEY Director of Research Chief Executive Officer Meredith Whitney Advisory Federal Reserve Bank of Minneapolis Group, LLC 474 The Participants FABRIZIO ZAMPOLLI Senior Economist Bank for International Settlements SHENGHUI ZHANG Chief Representative Office of the Americas People’s Bank of China ROBERT B. ZOELLICK President The World Bank.
Load more

Recommended publications
  • Press Release, Update 180106
    3 January 2012 PRESS RELEASE DISTRIBUTION OF RESPONSIBILITIES AMONG THE MEMBERS OF THE EXECUTIVE BOARD OF THE ECB The Executive Board of the European Central Bank (ECB) agreed today, within the framework of its collective responsibility, on the following distribution of responsibilities among its members, with immediate effect unless otherwise stated: In addition to his statutory duties as President of the Executive Board, the Governing Council and the General Council, the President, Mr Mario Draghi, will remain responsible for Communications; the Counsel to the Executive Board; the ESRB Secretariat; Internal Audit; and Secretariat and Language Services. In addition to his statutory duties as deputy to the President, the Vice-President, Mr Vítor Constâncio, will remain responsible for Administration (with the exception of the New ECB Premises Project) and Financial Stability. In addition, he will be responsible for the Oversight of Payment Systems. Mr Jörg Asmussen will be responsible for International and European Relations. In addition to his role as the ECB’s representative at international meetings, he will represent the ECB in meetings of the Euro Working Group and the Economic and Financial Committee and, will attend with the President or the Vice- President the meetings of the Eurogroup, ECOFIN and the Heads of State or Government at the EU and euro area level. Moreover, he will be responsible for Legal Services, the New ECB Premises Project and the Permanent Representation in Washington, DC. Mr Benoît Cœuré will be responsible, as of 1 March 2012, for Market Operations and, with immediate effect, for Information Systems and Payments and Market Infrastructure.
    [Show full text]
  • 3 OECD/GFLEC Global Policy Research Symposium to Advance
    PROGRAMME 3rd OECD/GFLEC Global Policy Research Symposium to Advance Financial Literacy HARNESSING FINANCIAL EDUCATION TO SPUR ENTREPRENEURSHIP AND INNOVATION 7 May 2015 OECD Conference Centre Paris, France Connect now to answer the current question. We will ask more questions and take polls during session 3 of the symposium: https://app.wisembly.com/fe2015 To live tweet the Symposium, use the hashtag #OECDfe Connect to the Internet with Wi-Fi hotspots. Network name: HotspotOECD (no access code) PROGRAMME 08:00 – 09:30 Registration 09:30 – 09:40 Opening remarks by Mr. Rintaro Tamaki, OECD Deputy Secretary-General 09:40 – 09:50 Video Message by H.M. Queen Máxima of the Netherlands, UN Secretary General’s Special Advocate for Inclusive Finance for Development and Honorary Patron of the G20 Global Partnership on Financial Inclusion 09:50 – 11:30 Session 1: Financial literacy and entrepreneurship: What does the evidence show? Moderator: Mr. Adrian Blundell-Wignall, Director, Directorate for Financial and Enterprise Affairs (DAF), OECD Speakers: Prof. Annamaria Lusardi, Academic Director, GFLEC, Chair of OECD/International Network on Financial Education (INFE) Research Committee Ms. Miriam Koreen, Deputy Director and Head of SME and Entrepreneurship Division, OECD Mr. Gert Wehinger, Senior Expert, DAF, OECD Ms. Adele Atkinson, Policy Analyst, DAF, OECD Commentators: Mr. E.J. Reedy, Director, Research and Policy, Kauffman Foundation Prof. Carmela Aprea, Chair of Business and Economic Education, Friedrich-Schiller-University, Jena, Germany 11:30 – 12:00 BREAK 12:00 – 13:00 Session 2: Financial literacy and MSMEs: What do entrepreneurs and business owners need? Moderator: Ms. Merril Stevenson, European Business Editor, The Economist Ms.
    [Show full text]
  • 2016 Annual Meetings of the Boards of Governors
    THE WORLD BANK GROUP Public Disclosure Authorized 2016 ANNUAL MEETINGS OF THE BOARDS OF GOVERNORS Public Disclosure Authorized SUMMARY PROCEEDINGS Public Disclosure Authorized Washington, D.C. October 7-9, 2016 Public Disclosure Authorized THE WORLD BANK GROUP Headquarters 1818 H Street, NW Washington, D.C. 20433 U.S.A. Phone: (202) 473-1000 Fax: (202) 477-6391 Internet: www.worldbankgroup.org iii INTRODUCTORY NOTE The 2016 Annual Meetings of the Boards of Governors of the World Bank Group (Bank), which consist of the International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), the International Finance Corporation (IFC), International Centre for the Settlement of Investment Disputes (ICSID), and the Multilateral Investment Guarantee Agency (MIGA), held jointly with the International Monetary Fund (Fund), took place on October 7, 2016 in Washington, D.C. The Honorable Mauricio Cárdenas, Governor of the Bank and Fund for Colombia, served as the Chairman. In Committee Meetings and the Plenary Session, a joint session with the Board of Governors of the International Monetary Fund, the Board considered and took action on reports and recommendations submitted by the Executive Directors, and on matters raised during the Meeting. These proceedings outline the work of the 70th Annual Meeting and the final decisions taken by the Board of Governors. They record, in alphabetical order by member countries, the texts of statements by Governors and the resolutions and reports adopted by the Boards of Governors of the World Bank Group. In addition, the Development Committee discussed the Forward Look – A Vision for the World Bank Group in 2030, and the Dynamic Formula – Report to Governors Annual Meetings 2016.
    [Show full text]
  • Global Finance's Central Banker Report Cards 2021
    Global Finance’s Central Banker Report Cards 2021 NEW YORK, September 1, 2021 — Global Finance magazine has released the names of Central Bank Governors who earned “A” or “A-” grades as part of its Central Banker Report Cards 2021. The full Central Banker Report Cards 2021 report and grade list will appear in Global Finance’s October print and digital editions and online at GFMag.com. The Central Banker Report Cards, published annually by Global Finance since 1994, grade the central bank governors of 101 key countries and territories including the European Union, the Eastern Caribbean Central Bank, the Bank of Central African States and the Central Bank of West African States. About Global Finance Grades are based on an “A” to “F” scale for success in areas such as inflation control, economic Global Finance, founded in growth goals, currency stability and interest rate management. (“A” represents an excellent 1987, has a circulation of performance down through “F” for outright failure.) Subjective criteria also apply. 50,000 and readers in 191 countries. Global Finance’s “With the pandemic still surging in many areas, and inflation emerging as a major area of audience includes senior concern once again, the world’s central bankers are confronting multiple challenges from corporate and financial multiple directions,” said Global Finance publisher and editorial director Joseph Giarraputo. officers responsible for making investment and strategic “Global Finance’s annual Central Banker Report Cards show which financial policy leaders are decisions at multinational succeeding in the face of adversity and which are falling behind.” companies and financial The Central Bankers earning an “A” grade in the Global Finance Central Banker Report Card institutions.
    [Show full text]
  • Local Currency Bond Markets Conference South African Reserve Bank (SARB) Conference Centre, Pretoria, South Africa
    Local Currency Bond Markets Conference South African Reserve Bank (SARB) Conference Centre, Pretoria, South Africa Thursday, 8 March 2018 Venue: SARB Conference Centre Auditorium 11.00 – 12.00 Registration 12.00 – 13.00 Finger lunch Programme Director: Mr Nimrod Lidovho, SARB 13.00 – 13.15 Welcome address by Governor Lesetja Kganyago, SARB 13.15 – 13.45 Opening remarks "Facing up to the original sin - The German experience of establishing a local currency bond market" by Andreas Dombret, Board Member, Deutsche Bundesbank 13.45 – 14.30 Keynote “Local currency markets – the case of a development bank” Joachim Nagel, Member of the Executive Board, KfW 14.30 – 14.45 Coffee break 14.45 – 15.30 “African growth and prosperity: the important role of local currency bond markets” by Stacie Warden, Executive Director, Center for Financial Markets, Milken Institute 15.30 – 16.15 Expert speech “Challenges of development of LCBM in emerging markets” Leon Myburgh, SARB 16.15 – 17.15 Bilateral talk “CWA: Development of financial markets in Africa” moderated by Deputy Governor Daniel Mminele, SARB Dondo Mogajane and Ludger Schuknecht, co-chairs of G-20 Africa Advisory Group, ZAF/GER Venue: SARB Conference Centre Banqueting Room 18.00 – 21.00 Conference dinner 18.00 – 18.20 Dinner remarks by Deputy Governor Daniel Mminele, SARB Friday, 9 March 2018 Venue: SARB Conference Centre Auditorium Programme Director: Mr Martin Dinkelborg, Deutsche Bundesbank 9.00 – 10.30 Panel discussion “The role of central banks in establishing primary markets” moderated by Zafar
    [Show full text]
  • ARM Wrap Up.Indd
    Asset and risk management seminar 6 February 2020, London Summary of discussions Full meeting programme List of participants Supported by: The day long seminar formed part of OMFIF’s 10th anniversary commemorations launched at the Gherkin in the City of London on 5 February 2020. We thank members and friends who have supported us since OMFIF’s foundation in January 2010 2 Central bankers ‘running out of tools’ to solve problems The seminar at London’s Painters’ Hall heard central bankers’ concerns that they are running out of tools to solve world economic problems. Three big worries were fading Chinese growth, negative interest rates in Europe and US pre- election divisions. 3 Asset and risk management seminar MARK Sobel, OMFIF’s US chairman, set a gloomy the offsetting factors were US success in lowering tone in opening remarks. He outlined a mediocre dependence on oil imports as well as breakthroughs outlook for Japanese growth, projected annual in areas like artificial intelligence that brought hopes expansion of only 1.3% for the euro area and a of a technologically driven upswing. further likely China growth decline – perhaps to There was general concern – including from as low as 2-4% in coming years from around 6% in policy-makers closely associated with the European 2018-19 and 10% during the now-ended 30-year Central Bank’s quantitative easing – that markets economic spurt. China had been responsible for were pressuring central banks into providing a one-third of world output growth, but this was now permanent ‘safety net’ that constrained their room fading, exacerbated by the coronavirus.
    [Show full text]
  • The Group of Twenty: a History
    THE GROUP OF TWENTY : A H ISTORY The study of the G-20’s History is revealing. A new institution established less than 10 years ago has emerged as a central player in the global financial architecture and an effective contributor to global economic and financial stability. While some operational challenges persist, as is typical of any new institution, the lessons from the study of the contribution of the G-20 to global economic and financial stability are important. Because of the work of the G-20 we are already witnessing evidence of the benefits of shifting to a new model of multilateral engagement. Excerpt from the closing address of President Mbeki of South Africa to G-20 Finance Ministers and Central Bank Governors, 18 November 2007, Kleinmond, Western Cape. 2 Table of Contents Excerpt from a Speech by President Mbeki....................................................................2 Executive Summary...........................................................................................................5 The Group of Twenty: a History ......................................................................................7 Preface............................................................................................................................7 Background....................................................................................................................8 The G-22 .............................................................................................................12 The G-33 .............................................................................................................15
    [Show full text]
  • 8-11 July 2021 Venice - Italy
    3RD G20 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS MEETING AND SIDE EVENTS 8-11 July 2021 Venice - Italy 1 CONTENTS 1 ABOUT THE G20 Pag. 3 2 ITALIAN G20 PRESIDENCY Pag. 4 3 2021 G20 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS MEETINGS Pag. 4 4 3RD G20 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS MEETING Pag. 6 Agenda Participants 5 MEDIA Pag. 13 Accreditation Media opportunities Media centre - Map - Operating hours - Facilities and services - Media liaison officers - Information technology - Interview rooms - Host broadcaster and photographer - Venue access Host city: Venice Reach and move in Venice - Airport - Trains - Public transports - Taxi Accomodation Climate & time zone Accessibility, special requirements and emergency phone numbers 6 COVID-19 PROCEDURE Pag. 26 7 CONTACTS Pag. 26 2 1 ABOUT THE G20 Population Economy Trade 60% of the world population 80 of global GDP 75% of global exports The G20 is the international forum How the G20 works that brings together the world’s major The G20 does not have a permanent economies. Its members account for more secretariat: its agenda and activities are than 80% of world GDP, 75% of global trade established by the rotating Presidencies, in and 60% of the population of the planet. cooperation with the membership. The forum has met every year since 1999 A “Troika”, represented by the country that and includes, since 2008, a yearly Summit, holds the Presidency, its predecessor and with the participation of the respective its successor, works to ensure continuity Heads of State and Government. within the G20. The Troika countries are currently Saudi Arabia, Italy and Indonesia.
    [Show full text]
  • The Question of Who Succeeds Jean-Claude Trichet
    Gunfight at the ECB Corral The question of who succeeds Jean-Claude Trichet. urope’s eleven-year-old monetary union is still being tested by skeptical investors and markets. It was barely saved by a €750 ($955) billion rescue plan that European Union leaders B Y K LAUS C. ENGELEN put together in May of this year. Although the immediate danger of Greece—or other eurozone member countries like Portugal or Spain— defaulting seems to have been averted, the pressure from markets to cut public deficits, stabilize banks, and reform economies remains. A look at the interest rates and insurance premia that financially Eweak eurozone countries have to pay on their new sovereign debt issues makes it clear that the crisis is not over. A year of major challenges for the sixteen-member eurozone is in store, with an uncertain outcome. For Europe’s central bankers and policymakers, one of those challenges is to rebuild confidence in the euro and its guardian, the European Central Bank. Since the ECB joined the international rescue of Greece and other financially weak nations on Europe’s southern periphery and announced that it would indef- initely accept those countries’ debt as collateral regardless of credit rating, the ECB, its President Jean-Claude Trichet, and its governing council have been con- fronted with a credibility crisis. “Trust in the ECB, as measured by the standard Eurobarometer (and other) sur- veys, has fallen to an unprecedented low—especially in the larger euro area coun- THE MAGAZINE OF tries,” concludes a major empirical study by Daniel Gros and Felix Roth of the INTERNATIONAL ECONOMIC POLICY Centre for European Policy Studies.
    [Show full text]
  • The De Larosière Group
    The de Larosière Group Jacques de Larosière Chairman Leszek Balcerowicz Otmar Issing Rainer Masera Callum Mc Carthy Lars Nyberg José Pérez Onno Ruding Secretariat of the Group David Wright, Rapporteur, DG Internal Market Matthias Mors, Secretariat, DG Economic and Financial Affairs Martin Merlin, Secretariat, DG Internal Market Laurence Houbar, Secretariat, DG Internal Market 1 TABLE OF CONTENTS AVANT-PROPOS ....................................................................................................................3 DISCLAIMER.......................................................................................................................... 5 INTRODUCTION....................................................................................................................6 CHAPTER I: CAUSES OF THE FINANCIAL CRISIS...................................................... 7 CHAPTER II: POLICY AND REGULATORY REPAIR................................................. 13 I. INTRODUCTION........................................................................................................ 13 II. THE LINK BETWEEN MACROECONOMIC AND REGULATORY POLICY .... 14 III. CORRECTING REGULATORY WEAKNESSES..................................................... 15 IV. EQUIPPING EUROPE WITH A CONSISTENT SET OF RULES............................ 27 V. CORPORATE GOVERNANCE.................................................................................. 29 VI. CRISIS MANAGEMENT AND RESOLUTION........................................................ 32 CHAPTER
    [Show full text]
  • 1 Conversation Between Carlos Da Silva Costa, Governor, Banco De
    Conversation between Carlos da Silva Costa, Governor, Banco de Portugal, and David Marsh, Chairman, OMFIF, 8 July 2020 David Marsh: Thank you for agreeing to this conversation, Mr Governor. You are within a few weeks of stepping down from your post as governor of the central bank and a member of the Governing Council of the European Central Bank. You have seen a lot in this time. How would you say that this crisis is different from the one in Europe in 2010-15? What lessons have we learned? Carlos da Silva Costa: The two crises are totally different. The one in 2008-09 originated in the financial sector. It came from the US and spread around Europe, at a different speed for different countries. It first hit the northern countries, with a savings surplus, because they invested a lot in American paper and junk bonds. The first banks hit were from the UK, Belgium, the Netherlands, France and Germany. Only after we had the second wave did it hit the southern banks, because they were unable to access the capital markets. The third wave was the sovereign crisis affecting countries with high debts and deficits. DM: And now we have a crisis that impacts all countries at the same time… CC: An external shock, not an economic or financial shock, impacting first the sanitary conditions, then the supply side through policies to contain contagion, then cash flows and income, and then demand. In parallel, we have seen an impact on the financial sector because as people were unable to reimburse capital or to pay interest, which led to wise decisions to accept moratoria on interest payments and reimbursements.
    [Show full text]
  • Press Release Distribution of Responsibilities Among The
    18 December 2012 PRESS RELEASE DISTRIBUTION OF RESPONSIBILITIES AMONG THE MEMBERS OF THE EXECUTIVE BOARD OF THE ECB The Executive Board of the European Central Bank (ECB) agreed today, within the framework of its collective responsibility, on the following distribution of responsibilities among its members, with immediate effect: In addition to his statutory duties as President of the Executive Board, the Governing Council and the General Council, the President, Mr Mario Draghi, will remain responsible for Communications, the Counsel to the Executive Board, the ESRB Secretariat, Internal Audit, and Secretariat and Language Services1. In addition to his statutory duties as deputy to the President, the Vice-President, Mr Vítor Constâncio, will remain responsible for Administration (with the exception of the New ECB Premises Project), Financial Stability, Oversight of Payment Systems and, together with Mr Yves Mersch, the Banking Union Project. Mr Jörg Asmussen will remain responsible for International and European Relations. In addition to his role as the ECB’s representative at international meetings, he will continue to represent the ECB in meetings of the Eurogroup Working Group and the Economic and Financial Committee and will attend with the President or the Vice-President the meetings of the Eurogroup, ECOFIN and the Heads of State or Government at the EU and euro area level. He will remain responsible for Legal Services, the New ECB Premises Project and the Permanent Representation in Washington, DC. Mr Benoît Cœuré will remain responsible for Market Operations, Payments and Market Infrastructure, and Research. Mr Yves Mersch will be responsible for Banknotes, Information Systems, Risk Management, TARGET2-Securities and, together with Mr Vítor Constâncio, the Banking Union Project.
    [Show full text]