External speakers

Isabel Schnabel

Member, German Council of Economic Experts

Isabel Schnabel was appointed to the Economic Advisory Council in June 2014. She is specialized in the study of financial markets.

Professor Schnabel lectures in Financial Economics at the Johannes-Gutenberg University in Mainz, is a research affiliate at the Centre for Economic Policy (CEPR) and at the Max-Planck Institute for Research on Collective Goods. She is also Deputy Dean of the Graduate School of Economics, Finance, and Management (GSEFM). Her primary fields of research are banking regulation, the “too big to fail” phenomenon and financial crises, under both current and historic perspectives.

Isabel Schnabel completed her PhD in Mannheim on the topic of links between macro-economic risks and financial crises. She was a visiting postdoctoral fellow at the Harvard University and has researched at both the London School of Economics and the International Monetary Fund. She is a member of the Administrative and Advisory Councils at BaFin, the German banking supervisory authority.

Isabel Schnabel was born in Dortmund in 1971, is married and has three children. She lives in Bonn.

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Blog Post

Completing Europe’s banking union means breaking the bank-sovereign vicious circle

Several euro area leaders, including the German chancellor, her finance minister, and the French president, have recently referred to the need to “complete the banking union.”. These public calls echo those made in more formal settings, and inevitably raise the question of what criteria should be used to assess the banking union’s completeness.

By: Isabel Schnabel and Nicolas Véron Topic: Banking and capital markets Date: May 17, 2018
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Blog Post

Breaking the Stalemate on European Deposit Insurance

Many EU-level reports have highlighted a European Deposit Insurance Scheme (EDIS) as a necessary component of banking union, but none of these options has met sufficient consensus among euro-area countries. The authors of this blog propose to end the deadlock with an EDIS design that is institutionally integrated but financed in a way that is differentiated across countries.

By: Isabel Schnabel and Nicolas Véron Topic: Banking and capital markets, Macroeconomic policy Date: March 5, 2018
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External Publication

Reconciling risk sharing with market discipline: A constructive approach to euro area reform

This publication, written by a group of independent French and German economists, proposes six reforms which, if delivered as a package, would improve the Eurozone’s financial stability, political cohesion, and potential for delivering prosperity to its citizens, all while addressing the priorities and concerns of participating countries.

By: Agnès Bénassy-Quéré, Markus K. Brunnermeier, Henrik Enderlein, Emmanuel Farhi, Marcel Fratzscher, Clemens Fuest, Pierre-Olivier Gourinchas, Philippe Martin, Jean Pisani-Ferry, Hélène Rey, Isabel Schnabel, Nicolas Véron, Beatrice Weder di Mauro and Jeromin Zettelmeyer Topic: Macroeconomic policy Date: January 17, 2018
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A resilient Euro needs Franco-German compromise

In a piece signed by 15 leading French and German economists, Nicolas Véron lays out a path to a more sustainable Euro. Germany will need to accept some form of risk sharing. France will need to allow more market discipline. But the two countries can find a common vision for reforms

By: Agnès Bénassy-Quéré, Markus K. Brunnermeier, Lars Feld, Philippe Martin, Hélène Rey, Isabel Schnabel, Nicolas Véron, Beatrice Weder di Mauro, Jeromin Zettelmeyer, Henrik Enderlein, Emmanuel Farhi, Clemens Fuest, Pierre-Olivier Gourinchas, Jean Pisani-Ferry and Marcel Fratzscher Topic: Macroeconomic policy Date: September 27, 2017