The U.S., the Eurozone, and Global Financial Markets     Print Email
Friday, 13 April 2007

The seminar addressed the implications and impact of an expanding Eurozone and global security concerns for financial markets and regulation. The Hon. Jean-Claude Trichet, President of the European Central Bank (ECB), commented on the process of financial integration in Europe and the economy’s potential for stronger non-inflationary economic growth. Odile Renaud-Basso, Secretary of the Economic and Financial Committee and the Economic Policy Committee for the European Commission discussed the prospects for reviving economic growth. Offering a U.S. perspective, Nova Daly, Deputy Assistant Secretary for Investment Security, U.S. Department of the Treasury, focused on foreign investment legislation, the role of the Committee on Foreign Investment in the United States (CFIUS), financial services regulation and negotiating with partners such as China and Europe. He noted the need for more open markets and regulatory reform. Frank Kelly, Managing Director and Head of Government Affairs, Deutsche Bank, indicated that there are new challenges for business as globalization impacts China, India and beyond. The U.S. needs to deal with issues of overlapping regulation for financial investments, changes of financial markets and costs of legislation. H.E. Claudia Fritsche, Ambassador of Liechtenstein discussed security concerns that have transformed international financial operations. The Hon. Yves Mersch, Governor of Central Bank of Luxembourg, touched on the global economic environment, the European perspective of the American housing market, the decoupling of the European market, the risks of international markets and the Euro zone. Angel Ubide, Director of Global Economics, Tudor Investment Corporation served as the moderator.

 
  • How Automation Shapes the Labor Market AND Political Preferences

    By Thomas Kurer, University of Zurich and Bruno Palier, Sciences Po, Paris

    We do not believe that Brexit, Trump, or the alarming success of radical right parties in almost all European countries should be interpreted as mere “electoral accidents.” Instead, we suggest that the current destructuring of political systems is connected to the profound transformation of labor markets in times of automation. Our core argument is that the specific effects of current technological innovations are key to understanding their political implications.

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UMD Jean Monnet Research Project

The University of Maryland has received a Jean Monnet grant from the EU to conduct a series of policy exchanges between Europe and the US on filling infrastructure needs and the utility of public/private partnerships as the financing mechanism. If interested in participating in or receiving more information about these exchanges, please contact Rye McKenzie (rmckenzi@umd.edu).

New from the Bertelsmann Foundation

The Bertelsmann Foundation is an independent, nonpartisan and nonprofit think tank in Washington, DC with a transatlantic perspective on global challenges.

"Edge of a Precipice" by Nathan Crist

"Newpolitik" by Emily Hruban

 

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