Bank bailouts in the EU (so far): What was really paid by whom?

As EU leaders state the aim of no longer expending “taxpayers’ money” on future bank rescues, it is instructive to examine recent practice and infer lessons on what drives policy decisions in a real-life crisis situation. Starting from Hans-Joachim Dübel’s detailed research of representative case studies since the start of the financial crisis, the debate will focus both on the prospects for bank restructuring in the immediate aftermath of this year’s comprehensive assessment by the ECB, and on the possible longer-term impact of the Bank Recovery and Resolution Directive and Single Resolution Mechanism.

The event will be held under the Chatham House rule.

Speakers

• Hans-Joachim Dübel, Founder and Principal, Finpolconsult
• Anna Jarosz-Friis, Head of Task Force Financial Crisis, European Commission DG COMP
• Robert Priester, Deputy Chief Executive, European Banking Federation
• Chair: Nicolas Véron, Senior Fellow, Bruegel

About the speakers

Hans-Joachim Dübel founded Finpolconsult in Berlin in 2000 and has been active in policy debates about mortgage finance, housing policy and broader financial regulatory issues in Germany, the EU, and beyond. His earlier experience includes work at the World Bank in the late 1990s and at Empirica, a consultancy, as chief economist from 1992 to 1998. He holds degrees in Economics from Friedrich-Wilhelms University and the German Development Institute, both in Bonn.

Anna Jarosz-Friis heads Unit D4 (State Aids II) in the European Commission’s Directorate-General for Competition (DG COMP), one of the three units that form the Financial Crisis Task Force in the context of DG COMP’s key role in overseeing bank restructuring in the EU. A PhD graduate in Economics, she joined the Commission in 2002 and has worked on subsidies in the EU-Korea free trade agreement, on state aid crisis rules for banks, and in Commissioner Almunia’s cabinet staff.

Robert Priester joined the European Banking Federation in 2005 after spending more than a decade in other European financial industry associations, of savings banks (ESBG), insurers (CEA) and asset managers (EFAMA) respectively. In the EBF, he heads the Wholesale and Regulatory Policy Department. A Dutch national, he holds a degree in International Law from Leyden University.

Event materials

Creditor Participation in Banking Crisis in the Eurozone – A Corner Turned? by Hans-Joachim Dübel Download

Practical details:

• Venue: Bruegel, Rue de la Charité 33, 1210 Brussels
• Time: Wednesday 26 March, 2014, 8.15-10.00 (Breakfast will be served at 8.15 after which the event begins at 8.30)
• Contact: Matilda Sevón, Events Coordinator - matilda.sevon[at]bruegel.org