The Roundtable on Financial and Economic Affairs will focus on financial reforms under consideration in both Europe and the United States in wake of the global financial crisis and the implications within Europe, as well as on a concerted and effective transatlantic approach. The program will also consider the divergent responses to the economic crisis and the ramifications within the European Union and for the United States, the future of the euro-zone, and the relationship between the dollar and the euro. Issues related to CFIUS and protecting the integrity of the electronic banking systems will also be included in this program.

Recent Meetings:

On April 19, The European Institute, in cooperation with the Embassy of Latvia, welcomed Andris Vilks, Latvian Finance Minister, Ilmars Rimševics, Governor of the Bank of Latvia, and Jeffrey Baker, Director of the Office of Europe and Eurasia of the U.S. Treasury Department, to a roundtable breakfast discussion on Latvia’s economic recovery and its lessons.  Emphasizing key qualities in their government’s approach, Mr. Vilks and Mr. Rimševics explained how these might be applied towards wider strategies involving other European nations in crisis.  Mr. Baker singled the flexibility of its labor market as being instrumental to Latvia’s turnaround.

On February 13, 2012, The European Institute hosted a breakfast discussion of The World Bank’s recently released assessment of the strengths and weaknesses of European economies. Indermit Gill, Chief Economist for Europe and Central Asia at the World Bank, outlined the major findings of the compelling report: “Golden Growth: Restoring the Lustre of the European Economic Model” (available here). A panel discussion followed with Antonio de Lecea, Minister and Principal Advisor at the Delegation of the European Union; Nicolas Véron, Senior Fellow at Bruegel and Visiting Fellow at the Peterson Institute for International Economics; and Dr. Angel Ubide, Director of Global Economics at Tudor Investment Corporation and Visiting Fellow at the Peterson Institute for International Economics.

On December 5th, The European Institute presented its Transatlantic Leadership Award to The Honorable Christine Lagarde, Managing Director of the International Monetary Fund and to The Honorable Elias Zerhouni, President of Global Research and Development at Sanofi and former Director of the U.S. National Institutes of Health, at the Annual Ambassadors’ Gala Dinner. Madame Lagarde was recognized for exercising uncommon leadership in seeking to resolve the European sovereign debt crisis and stem further contagion of the global economy. Dr. Zerhouni was honored for his pivotal role in furthering translational medical innovation to the benefit of global public health.

Click here to read Christine Lagarde's remarks.

Click here to read Dr. Elias Zerhouni's remarks.

On July 7, 2011, The Honorable András Kármán, Hungarian State Secretary for Tax and Financial Regulation at the Ministry of National Economy, who personally coordinated the negotiations between EU Member States and the European Parliament during Hungary’s Presidency of the European Council, on a number of key legislative initiatives, including the reform of the Stability and Growth Pact, offered his insight into what was accomplished and the challenges that still lay ahead in the European Union’s push for sustainable financial and economic stability.

On May 17, 2011, The European Institute hosted a program with Pankraz Freitag, President of the Swiss Senate Banking Committee. Senator Freitag shared best practices from Switzerland’s fiscal policies and budget management.  He also offered his perspective on what the European Union and United States might take away from Switzerland’s  “debt brake” experience, while continuing to secure the global strength of the dollar and the euro, balance their budgets and work to reform fiscal regulations in order to avoid future crises.

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