Committee on Economic and Monetary Affairs Public Hearing with Experts and Representatives of stakeholders on improving the accountability of the European Central Bank 2 December 2020, 13.45 - 15.45, Brussels, Room József Antall (4Q2) SPEAKERS Jean-Claude Trichet Former President of the European Central Bank Honorary Governor of the Banque de France Jean-Claude Trichet is honorary Chairman of the Board of Directors of Bruegel Institute (Brussels) and European Chairman of the Trilateral Commission. Mr. Trichet is a member of the "Institut de France" (Académie des Sciences Morales et Politiques). He is honorary chairman of the Group of Thirty (Washington). Jean-Claude Trichet worked in the competitive sector from 1966 to 1968. He was appointed to the Inspection générale des Finances in 1971. He was assigned to various posts at the Ministry of Finance in the General Inspectorate of Finance and later in the Treasury Department, where in 1976 he became Secretary General of the Interministerial Committee for Improving Industrial Structures (CIASI). Jean-Claude Trichet was made an adviser to the President of the French Republic (Valéry Giscard d’Estaing) in 1978. In 1986 he headed the Private Office of the Minister of Economic Affairs, Finance and Privatisation (Edouard Balladur). In 1987 he became Director of the Treasury. He was Chairman of the European Monetary Committee from 1992 until his appointment as Governor of the Banque de France in 1993. He was instrumental in the implementation of the French strategy of “competitive desinflation” in the 80’s and the 90’s. 1 Jean-Claude Trichet was elected Chairman of the Group of Ten (G10) Governors on 29 June 2003, then of the “Global economy meeting” of Central Bank governors and of the Group of Governors and heads of supervision (GHOS) in Basel (until October 2011). He became President of the European Central Bank on November 1st 2003 for a eight year mandate. Since late 2010 and until end of October 2011, Mr. Trichet has been Chairman of the European Systemic Risk Board (ESRB). He was president of Sogepa (Société de Gestion des Participations Aéronautiques) (2012-2013) and director of Airbus Group (2012-2018). He was named “Person of the Year” by the Financial Times (2007), “Policymaker of the Year” by “The International Economy Magazine” (1991 and 2007), was n° 5 of the “World Most Powerful” in the 2008 Newsweek list and was one of the “Most Influential People in the World” in Time Magazine (2011). November, 2020 (medium) 2 He has received the 2011 International Charlemagne Prize of Aachen for his contribution to European unity and the 2011 Global Economy Prize from the Kiel Institute for the World Economy. He received the "Lifetime Achievement Award" of the National Association of Business Economists in Washington (2014) and the Prize of the "Monetärer Workshop", Frankfurt (2016). Born in Lyon, Jean-Claude Trichet is an honorary inspecteur général des Finances and ingénieur civil des Mines. He is a graduate of the École nationale supérieure des Mines de Nancy, of the Institut d’études politiques de Paris, of the Université de Paris (in economics) and of the École nationale d’administration. He has been awarded honorary doctorates by several universities (Stirling, Montreal, Liege, Tel Aviv, Bologna and Sofia). Rosa M. Lastra Professor Dr. Queen Mary University of London 2 Prof. Dr. Rosa María Lastra is the Sir John Lubbock Chair in Banking Law at the Centre for Commercial Law Studies, Queen Mary University of London. She is a member of the Monetary Committee of the International Law Association (MOCOMILA), the European Shadow Financial Regulatory Committee, the European Banking Institute, the European Law Institute, the International Insolvency Institute, the Sovereign Debt Scoping Forum of the Financial Markets Law Committee (FMLC), the Financial Markets Group of the London School of Economics and P.R.I.M.E. She has served as a consultant to the International Monetary Fund, the European Central Bank, the World Bank, the United Nations (UNCTAD), the Federal Reserve Bank of New York, the Asian Development Bank and the UK House of Lords. She is a member of two expert panels of the European Parliament supporting the ECON Committee: the Monetary Panel and the Banking Union (Resolution) Panel. She is co-director of the Sovereign Debt Forum (a joint initiative with Georgetown University). Prior to coming to London she taught in Columbia University in the City of New York and worked at the International Monetary Fund in Washington D.C. She studied at Salamanca University, Valladolid University, Madrid University, London School of Economics and Political Science and Harvard Law School. She has written extensively in her fields of expertise, including the following authored and edited (or co-edited) books: Research Handbook on Law and Ethics in Banking and Finance (Oxford University Press, 2019), Research Handbook on Central Banking (Elgar, 2018), International Financial and Monetary Law (Oxford University Press, 2015), Sovereign Debt Management (Oxford University Press, 2014), The Rule of Law in Monetary Affairs (Cambridge University Press, 2014), International Law in Financial Regulation and Monetary Affairs, (Oxford University Press, 2012), Cross-Border Bank Insolvency (Oxford University Press, 2011), Legal Foundations of International Monetary Stability (Oxford University Press, 2006), Central Banking and Banking Regulation (Financial Markets Group of the London School of Economics, 1996). In 2019-2020 she has been principal investigator in a research project on the Legal and Economic Conceptions of Money funded by ESRC (Economic and Social Research Council) under the umbrella of Rebuilding Macroeconomics (RM) Finance Hub at NIESR (National Institute of Economic and Social Research). Helene Schuberth Head of the Foreign Research Division Austrian Central Bank Helene Schuberth has been Head of the Foreign Research Division of the Austrian central bank, the Oesterreichische Nationalbank (OeNB), since 2013. In 2007 and 2008, she served as an economic policy adviser to the Federal Chancellor of the Republic of Austria. Before that, from 1999 to 2007, she was Deputy Head of the OeNB’s Economic Analysis Division. In addition, between 1992 and 2016, she also taught economics at the Vienna University of Economics and Business. She received her Ph.D. from the Vienna University of Economics and Business, her Master’s degree from the University of Vienna and an MPA from the Harvard Kennedy School. Helene Schuberth has published extensively on monetary, fiscal and macroprudential policies, financial governance, European integration and 3 economics of transition. She currently serves as a member of the ESCB’s Monetary Policy Committee and represents the OeNB in the Economic Policy Committee of the OECD. Vivien Schmidt Jean Monnet Professor of European Integration Boston University Vivien A. Schmidt is Jean Monnet Professor of European Integration, Professor of International Relations in the Frederick S. Pardee School of Global Studies, and Professor of Political Science, all at Boston University, where she has also been Founding Director of BU’s Center for the Study of Europe. She received her B. A. cum laude from Bryn Mawr College, her MA and PhD from the University of Chicago, and also attended Sciences Po, Paris. Prof. Schmidt has additionally held appointments as professor at the University of Massachusetts/Boston and as visiting professor at a number of major European universities and institutes, most recently at LUISS Guido Carli in Rome (2012 to present) and Sciences Po in Paris (2000-2009). She has also been visiting scholar at Cambridge University, Oxford University, Warwick University, and at Harvard University’s Center for European Studies, where she is a long-time affiliate and co-chair of the Study Group on the European Union (2008 to present). Among Prof. Schmidt’s numerous honors and awards is the European Union Studies Association Lifetime Achievement Award (2019), Chevalier in the French Legion of Honor (2018), a Guggenheim Fellowship (2018), the SWIPE award for mentoring women from the International Studies Association (2017), an honorary doctorate from the Free University of Brussels (2008), the Belgian Franqui Interuniversity Chair (2007), and a Jean Monnet Chair from the EU Commission in 2001. Among Prof. Schmidt’s research awards are a Research Fellowship from the European Commission’s DG ECFIN (2014-2015), co-investigator in the Horizon 2020 grant ENLIGHTEN ‘European Legitimacy in Governing through Hard Times: The Role of European Networks’ (2015-2018). She has been Visiting Research Scholar at the Free University Berlin (2010 and 2017), the French National Research Council (2007), and the Rockefeller Center at Bellagio (2003). And she has held Fulbright Fellowships at Oxford University, the University of Paris, and a Fulbright-Hays pre-dissertation fellowship at Sciences Po, Paris. 4 Schmidt’s areas of scholarly interest are European political economy, institutions and democracy, as well as political theory (notably on the role of ideas and discourse in political analysis–‘discursive institutionalism’). Her single-authored books include Europe’s Crisis of Legitimacy: Governing by Rules and Numbers in the Eurozone (Oxford 2020), Democracy in Europe (Oxford 2006; French translation, La Découverte 2010)—named by the European Parliament in 2015 as one of the top one hundred books written on the European Union since its inception http://www.europarl.europa.eu/100books/en/list.htm), The Futures of European Capitalism (Oxford 2002), From State to Market? The Transformation of French Business and Government (Cambridge l996), and Democratizing France (Cambridge l990)—recipient of a special award at the Gaston Defferre Prize Ceremony in Marseilles (1992). Among her edited books are Governance and Politics in Post-Crisis Europe (co-ed. with R. Coman and A. Crespy—Cambridge 2020), Resilient Liberalism in Europe’s Political Economy (co-ed with M. Thatcher—Cambridge 2013), Debating Political Identity and Legitimacy in the European Union (co-ed. with S. Lucarelli and F. Cerutti—Routledge, 2010), Policy Change and Discourse in Europe (co-ed with C.