Past Event
The outlook for European financial centres
This event organised jointly by Bruegel, the Malta Financial Services Authority, and the Maltese Ministry for Finance will discuss the outlook for European Financial Centres.
The 2008 banking crisis has severely shaken financial centres. The crisis was a multi-facetted systemic failure – in products, supervision and corporate governance. Solutions to these problems are not straightforward. A future crises, of a different character from the past, will still occur through threats and vulnerabilities. The norm therefore should be for a well-regulated financial sector, supporting economic growth in good times, but with built-in support systems that are well designed to resist shocks and contagion in bad times. This is important so that the banking system and financial markets can readily deliver faster growth with stability.
Financial services provide support for households, businesses and governments and increasing the potential for trade-led growth and investment throughout the EU economies. This is in line with the aspirations for the Europe 2020 strategy – both tapping the potential of the Single Market and attracting private capital to finance growth.
In a world of increasingly mobile capital and talent, financial centres need to be deep and concentrated so as to establish regional advantage as business hubs, conduits for capital flows and pools of expertise and innovation. Within the EU, finance centres provide substantial direct benefits in terms of tax revenue, export earnings, employment and capital flows.
Presentation by Georg Ringe
Presentation by William Wright
Schedule
08.30 - 09.15
Registration
09.15 - 09.30
Introductory remarks
Nicolas Véron, Senior Fellow
09.30 – 10.00
Presentation
William Wright, Founder and managing director, New Financial
10.00 - 10.30
Presentation
Georg Ringe, Professor, Copenhagen Business School
10.30 – 11.00
Coffee Break
11.00 - 12.30
Panel Session on European Financial Centres
Chair: Nicolas Véron, Senior Fellow
Juanita Bencini, Chairperson, Institute for Financial Services
J Portelli, Chairman, Malta Stock Exchange
Georg Ringe, Professor, Copenhagen Business School
William Wright, Founder and managing director, New Financial
12.30
Closure
J V Bannister, Chairman, MFSA
Speakers
J V Bannister
Chairman, MFSA
Juanita Bencini
Chairperson, Institute for Financial Services
J Portelli
Chairman, Malta Stock Exchange

Georg Ringe
Professor, Copenhagen Business School

Nicolas Véron
Senior Fellow

William Wright
Founder and managing director, New Financial