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Financial Markets Between Nationalisation and Europeanisation

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Erwin-Schrödinger-Saal
Plenary / Panel
english language

National regulation may not be adequate to deal with supranational consequences. The crisis has limited the expansion of banks to other countries. Will the banking union and access to ESM funds revive the integration of capital markets? Will the free movement of services be impaired?

Speakers

Director, Directorate D - Regulation and Prudential Supervision of Financial Institutions, DG FISMA - Financial Stability, Financial Services and Capital Markets Union, European Commission, Brussels
Former Member of the Board, ECB - European Central Bank, Luxembourg; Consultant, WIFO - Austrian Institute of Economic Research, Vienna
Chairman and Chief Executive Officer, Erste Bank der oesterreichischen Sparkassen AG, Vienna Abstract
In general, we are of the opinion that since the start of the financial crisis a number of new regulations have already been implemented (e.g. Basel 2.5), are in the process of implementation (e.g. Basel 3) or are being prepared (e.g. Basel trading book review) and we believe that these regulations already meet the major aim to create a more stable banking sector. Prior to the adoption of further changes (including just published fundamental structural changes), legislators and regulators should better apply a step by step approach, first implementing the proposals in the pipeline, then analyzing the impact and the changes in the market environment driven by these changes and only afterwards analyzing potential further improvements. A parallel process of implementation of new provisions and discussing further amendments does not seem reasonable.
Senior Fellow, Bruegel, Brussels; Visiting Fellow, Peterson Institute for International Economics, Washington, D.C.
Former Board Director, EBRD - European Bank for Reconstruction and Development; Member of the Supervisory Board, OeEB - Oesterreichische Entwicklungsbank AG (Development Bank of Austria), Vienna Chair

Ph.D. Mario NAVA

Director, Directorate D - Regulation and Prudential Supervision of Financial Institutions, DG FISMA - Financial Stability, Financial Services and Capital Markets Union, European Commission, Brussels

1994-1996 Policy Officer, Taxation and Budget Department (DG XXI), European Commission, Brussels
1996-2000 Policy Officer, Cabinet of the Competition Commissioner, Prof. Mario Monti (2000-2001), European Commission, Brussels
2001-2004 Member of the Group of Policy Advisers of the EU Commission President, Prof. Romano Prodi (2001-2004), Brussels
2004-2009 Head of Unit, Financial Markets Infrastructure, DG Internal Market and Services, European Commission, Brussels
2009-2011 Head of Unit, Banking and Financial Conglomerates, DG Internal Market and Services, European Commission, Brussels
since 2011 Acting Director, Directorate Financial Institutions, DG Internal Market and Services, European Commission, Brussels

Mag. Dr. Gertrude TUMPEL-GUGERELL

Former Member of the Board, ECB - European Central Bank, Luxembourg; Consultant, WIFO - Austrian Institute of Economic Research, Vienna

  OeNB - Oesterreichische Nationalbank, Vienna
1975 Master's Degree in Economics and Social Sciences, University of Vienna
1981 Ph.D., University of Vienna
1981-1984 Advisor in the Cabinet of the Minister of Finance
1985-2003 Various Leadership Positions, OeNB - Oesterreichische Nationalbank, Vienna
  Austria's Alternate Governor of the International Monetary Fund
  Member of the Economic and Finance Committee
1998-2003 Vice Governor, Economics and Financial Markets Department, OeNB - Oesterreichische Nationalbank, Vienna
2003-2011 Member of the Executive Board, European Central Bank, Frankfurt am Main

Dr. Thomas UHER

Chairman and Chief Executive Officer, Erste Bank der oesterreichischen Sparkassen AG, Vienna

1983-1989 Study of Law and Ph.D., University of Vienna,
1988-1989 Assistant, Institute of Constitutional and Administrative Law, University of Vienna
1989-1990 Executive Board Office, Creditanstalt Bankverein, Vienna
1991-1993 Department International Business Support Creditanstalt a.s., Prague
1994-1997 Member of the Management Board, Creditanstalt a.s., Bratislava
1997-2007 Member of the Management Board, Österreichische Bundesforste AG, Vienna
2007-2010 Member of the Management Board, Erste Bank der oesterreichischen Sparkassen AG, Vienna
2010-2014 Member of the Management Board, Board Spokesman, Erste Bank der oesterreichischen Sparkassen AG; Vienna
since 2015 Chairman and Chief Executive Officer, Erste Bank der oesterreichischen Sparkassen AG; Vienna

MMag. Nicolas VERON

Senior Fellow, Bruegel, Brussels; Visiting Fellow, Peterson Institute for International Economics, Washington, D.C.

1993-1994 M&A Advisory, Rothschild & Cie Bank, Paris
1995-1997 Economic Adviser, Prefecture of the Nord-Pas-de-Calais Region, Lille
1997-2000 Senior Corporate Adviser to French Labour Minister Martine Aubry, Paris
2000-2002 Vice President and CFO of MultiMania / Lycos France SA, Paris
since 2002 Involved in the Creation and Development of Bruegel
since 2009 Senior Fellow, Bruegel, Brussels
since 2009 Visiting Fellow, Peterson Institute for International Economics, Washington, D.C.

Dr. Kurt BAYER

Former Board Director, EBRD - European Bank for Reconstruction and Development; Member of the Supervisory Board, OeEB - Oesterreichische Entwicklungsbank AG (Development Bank of Austria), Vienna

 Studies in Law, Graz; International Relations, Johns Hopkins Bologna Center; Economics, University of Maryland
1971-1995 Researcher and Board Member, Austrian Institute of Economic Research
1995-2008 Deputy Director General, Austrian Ministry of Finance
2002-2004 Board Director, World Bank
2008-2012 Board Director, EBRD - European Bank for Reconstruction and Development

Financial Market Symposium

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