European Institute

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Category: Roundtables

Created on 07 October 2010

On October 7, 2010, Dr. Franc Križanic, Minister of Finance for the Republic of Slovenia offered his perspective on the implications of the economic crisis for his country as well as for the European Union. The first former eastern bloc country to adopt the euro in 2007, Slovenia has been hard hit by the current economic downturn. Following a decade of robust growth, Slovenia’s export driven economy contracted by 7.8 % in 2009 -- the largest drop in the euro area and the first recession since independence. But a combination of bold stimulus measures and financial sector support appears to have stemmed the downturn and GDP is expected to show a modest gain of .6% by year’s end. Minister Križanic asserted that sustainable economic growth will depend largely on increased investment in the development of new technologies. With key economic indicators showing that both Slovenia and Europe are already beginning to emerge from the crises, he concluded that prospects for even further recovery, growth and prosperity are good, as long as a focused and consolidated effort to achieve key goals remains intact.

Click here to view Minister Križanic's presentation.

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Category: Roundtables

Created on 30 September 2010

On September 30, 2010, The European Institute held its Annual Meeting of the Members and Board of Advisors at the Embassy of the Grand Duchy of Luxembourg.  Discussions focused on U.S. and European efforts to enact comprehensive financial regulatory measures, strengthen economic governance and spur sustainable economic growth. Moderated by Timothy Keeler, Counsel at Mayer Brown LLP, the expert panel included Mark Sobel, Deputy Assistant Secretary for International Finance at the U.S. Department of the Treasury; Antonio de Lecea, Minister - Principal Advisor for Economic and Financial Affairs at the Delegation of the European Union; Matthias Sonn, Minister of Economics and Science at the Embassy of the Federal Republic of Germany; and Jeffrey Skeer, International Relations Specialist in the Office of Policy and International Affairs at the U.S. Department of Energy.

The panel was followed by a dinner and a lively discussion with David Mark, Senior Editor at Politico and Politico.com, about the U.S. Mid-Term Elections and their Potential Implications.

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Category: Roundtables

Created on 11 May 2010

On his maiden visit to the United States in his current capacity, The Honorable Michel Barnier, European Commissioner for the Internal Market and Services discussed ongoing efforts in both Europe and the United States to restructure financial services:  measures made all the more contentious in light of the sovereign debt crisis affecting member states of the European Union and the Eurogroup.  Mark Sobel, Deputy Assistant Secretary for International Monetary and Financial Policy at the U.S. Department of the Treasury; James Chanos, Chairman of the Coalition of Private Investment Companies; Patrick Herman, Minister-Counselor for Economics at the Embassy of Belgium; and Julie Chon, Senior Advisor to Chairman Christopher Dodd on the U.S. Senate Banking Committee then participated in a panel discussion regarding the U.S., EU and private sector perspectives on the new proposed financial regulations.  Frank Kelly, Managing Director and Head of Government Affairs – Americas at Deutsche Bank and The Honorable Clay Lowery, Vice President of International Government Affairs at Cisco served as moderators for the discussion.

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.

 Click here for the full text of Commissioner Barnier's keynote address, "Building a New Financial Framework Together."

Article Information

Category: Roundtables

Created on 22 April 2010

On April 22, 2010 The European Institute's Transatlantic Roundtable on Financial and Economic Affairs held a special luncheon meeting with The Honorable Olli Rehn, European Commissioner for Economic and Monetary Affairs. In his first official visit to the United States since assuming this critical portfolio, Commissioner Rehn addressed the European Union’s efforts to restore financial stability and stimulate economic growth in the face of an unprecedented sovereign debt crisis. Speaking with Chrystia Freeland, Global Editor-at-large at Thomson Reuters, he outlined the actions taken to address Greece’s looming insolvency: fiscal consolidation and agreement on a euro area mechanism of coordinated conditional financial assistance for Greece. Commissioner Rehn emphasized his confidence in the cooperation between the European Commission, the European Central Bank and the IMF. He downplayed concerns about debt crisis contagion in Spain, Portugal, and Italy, reminding participants that rising debt levels were in part the natural consequence of the stimulus packages enacted in response to the financial crisis, and that Greece is a special case. Commissioner Rehn reiterated his call to grant audit powers to Eurostat, the EU’s statistical agency. He urged strengthening of the economic governance of the euro area through reinforcement of the Stability and Growth pact; broadening economic and fiscal surveillance to help rectify macroeconomic imbalances; and the establishment of a permanent crisis resolution mechanism. Commissioner Rehn also  addressed financial sector reform proposals on both sides of the Atlantic, stressing the importance of coordinating such policies not only within the transatlantic context, but also within the G-20 framework.

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.