Debate on the Future of EMU: Enhanced market discipline, centralised governance or somewhere in between?

3 Jun 2016 09:00
3 Jun 2016 14:30

 

 

 

Expert conference co-organised by the Institute for European Studies (VUB) and the European Commission

The Institute for European Studies of the Vrije Universiteit Brussel (VUB) and the Representation of the European Commission in Belgium warmly invite you to an Expert conference on the Future of EMU. The conference is aimed at academics and students interested in EMU governance, policy makers and other stakeholders from social partner organisations, government administrations and civil society. It will be held at the premises of the Institute for European Studies (Pleinlaan/Boulevard de la Plaine 5 (Floor -1) 1050 Brussels).

The working language of the conference will be English.

Participation is free of charge but registration is mandatory via this link.

Programme:

09:00 – 09:10

Welcome by Professor Harri Kalimo, Programme Director at the Institute for European Studies and Timo Pesonen, Director-General DG Communication at the European Commission

09:10 – 09:20

Steven Engels, European Semester Officer for Belgium at the European Commission

Completing EMU: From the 5 Presidents' Report to the White Paper

09:20 – 09:50

Vesa Vihriälä, Managing Director of the Research Institute of the Finnish Economy (ETLA)

EMU without fiscal and political union - why and how it could work

9:50 – 10:20

Luc Coene, ECB Representative in the Supervisory Board of the Single Supervisory Mechanism

Completing EMU: more risk sharing and more risk reduction require stronger institutions

*** Coffee Break ***
10:50 – 11:20

Jonathan Zeitlin, Professor of Public Policy and Governance at the University of Amsterdam

Centralised economic governance vs. enhanced market discipline: is a third way needed?

11:20 – 12:00

Moderated panel debate on the process towards a complete EMU: midway model, menu-option or minestrone?

Panellists:

Vesa Vihriälä, Managing Director of the Research Institute of the Finnish Economy (ETLA)
Luc Coene, ECB Representative in the Supervisory Board of the Single Supervisory Mechanism
Jonathan Zeitlin, Professor of Public Policy and Governance at the University of Amsterdam

Moderation: Steven Engels, European Semester Officer for Belgium at the European Commission

12:00 – 12:30 Q&A with participants

*** Networking Lunch until 14:30 ***

Background:

Delivering a deeper and fairer Economic and Monetary Union is one of the top 10 priorities of President Juncker in his Political Guidelines. The 5 Presidents' Report on Completing Europe's Economic and Monetary Union, prepared at the request of the euro area leaders and the European Council, is the basis for achieving this aim within the next decade. The report proposes an ambitious yet pragmatic roadmap for completing EMU by making progress towards a

Genuine Economic Union that ensures each economy has the structural features to prosper within the Monetary Union; Financial Union that guarantees the integrity of our currency across the Monetary Union by limiting risks to financial stability and increasing risk-sharing with the private sector;
Fiscal Union that delivers both fiscal sustainability and fiscal stabilisation and; finally,
Political Union that provides the foundation for all of the above through genuine democratic accountability, legitimacy and institutional strengthening.

Since the publication of the 5 Presidents' Report on June 22nd of 2015, the European Commission has already taken a number of Steps towards Completing Economic and Monetary Union, building on existing instruments and making the best possible use of the existing Treaties.

It has also announced that more far-reaching measures should be agreed upon to complete the Economic and Monetary Union at the latest by 2025. The Commission will present a White Paper in spring 2017 outlining the next steps needed, including legal measures to complete EMU. This White Paper will be drafted in consultation with the Presidents of the other EU institutions. To prepare it and to stimulate a broad-based debate, the Commission is currently facilitating discussions and public debates across the EU. The expert conference co-organised by the Institute for European Studies of the VUB and the Representation of the European Commission in Belgium is a part of that effort.

Venue

Karel Van Miert Building
Conference Rooms Rome & Lisbon
Pleinlaan 5
1050 Brussels

Getting to the Institute for European Studies

Contact

Harri Kalimo (Academic Coordinator)
Institute for European Studies
Email: harri.kalimo@vub.ac.be

Steven Engels (Academic Coordinator)
Economic Analyst, European Semester Officer
Email: Steven.Engels@ec.europa.eu

Anamaria Bacsin (Communication and Logistics)
Institute for European Studies (IES/VUB))
E-mail: anamaria.bacsin@vub.ac.be
Tel: +32 2 614 80 40