On February 23, 2010, The European Institute held a special breakfast meeting of its Transatlantic Roundtable on Financial and Monetary Affairs with His Excellency Vassilis Kaskarelis, Ambassador of Greece to the United States, who spoke about the implications of Greece’s financial crisis.
This meeting was supported by the Transatlantic Program of the Government of the Federal Republic of Germany through funds of the European Recovery Program (ERP) of the Federal Ministry of Economics and Technology.
Antonio De Lecea, Director for International Economic and Financial Affairs at the European Commission, offered his assessment of the European Commission’s proposed common approach to sovereign wealth funds, and Nova Daly, Deputy Assistant Secretary for Investment Security at the U.S. Department of the Treasury, examined the role of CFIUS in regulating the flow of sovereign wealth funds into the United States. The Hon. Patrick Mulloy, Member, U.S.-China Economic and Security Review Commission expressed his concern about sovereign wealth funds and their influence on the U.S. government and economy. Klaus Stein, IMF Executive Director for Germany; Jarle Bergo, Alternate IMF Director for the Nordic/Baltic States; and François Teissonnière, Managing Director, Telecoms, Rothschild Inc. presented perspectives from Germany, Norway, and the private sector on the issue. Thomas J. Karol, President and COO of the newly formed Sovereign Investment Council emphasized the positive aspects of these funds and advised against excessive regulation that would lead to perceptions of protectionism. The discussion was moderated by James Mendenhall, Partner, at Sidley Austin LLP.
The Honorable Lucas Papademos, Vice-President of the European Central Bank addressed the role of the Central Bank in dealing with the current turmoil in global financial markets, as well as the prospects for the European economy. This dinner discussion was hosted in New York City in cooperation with BlackRock, Inc.
The Hon. Pervenche Berès, Chairwoman of the European Parliament’s Committee on Economic and Monetary Affairs (ECON), accompanied by a delegation of Committee members, offered her perspective on the need for greater transatlantic cooperation in response to the consolidation of financial markets and stock exchanges. Michael Ryan, Executive Director of the U.S. Chamber of Commerce’s Commission on the Regulation of U.S. Capital Markets in the 21st Century, presented the Commission’s Report and Recommendations on U.S. competitiveness.
© COPYRIGHT THE EUROPEAN INSTITUTE 2009
You may share using our article tools. Please don't cut articles from our site and redistribute by email or post to the web.