Workshop EU Economic Architecture

CEPR-Research and Policy Network on European Economic Architecture Workshop: Reassessing the EU Fiscal and Monetary Framework after COVID-19

1 Dec 2021 - 2 Dec 2021

Mandy Chan

Head of Events Centre for Economic Policy Research

Programme

Programme

All timings are in CET

December 1

14:55 Welcome by Stéphane Pallage (University of Luxembourg) and Ramon Marimon (EUI and CEPR)

Chair: Ramon Marimon (European University Institute, UPF – BSE and CEPR)

15:00 - 16:30 The legacy of the 21st Century European crises: What do we know?

Introduction: Giancarlo Corsetti (University of Cambridge and CEPR), Xavier Ragot (Sciences Po)

Discussants: Debora Revoltera (European Investment Bank), Michala Marcussen (Societe Generale), Alfred Kammer (IMF)

16:30 - 16:40 Break

Chair: Jean Pisani-Ferry (Senior Fellow, Bruegel and PIIE; Tommaso Padoa-Schioppa chair, EUI and CEPR)

16:40 - 18:00 What can we expect from the NGEU plans?

Introduction: Riccardo Barbieri (Italian Economy and Finance Ministry), Declan Costello (European Commission)

Discussants : Luis Garicano (European Parliament and CEPR) , Silvia Merler (Algebris Investments), Armin Steinbach (HEC Paris)

18:00 - 18:10 Break

18:10-18:50 Introduction: Beatrice Weder Di Mauro (Graduate Institute Geneva, INSEAD Singapore and CEPR)

Keynote: The plumbing of European integration – some lessons derived from practical experience by Klaus Regling (European Stability Mechanism)

December 2

09:25 Welcome by Rolf Strauch (European Stability Mechanism)

Chair: Rolf Strauch (European Stability Mechanism)

9:30 - 10:45 Climate action and macroeconomic policy

Introduction: Jean Pisani-Ferry (Senior Fellow, Bruegel and PIIE; Tommaso Padoa-Schioppa chair, EUI and CEPR)

Discussants: Philippe Aghion (LSE and CEPR) and Paul Hiebert (European Central Bank)

10:45 - 11:00 Break

Chair: Rolf Strauch (European Stability Mechanism)

11:00 - 12:15 Reforming the fiscal framework: Radical options and the feasibility space (1h30)

Panel discussion: Tuomas Saarenheimo (Council of the European Union), Niels Thygesen (European Fiscal Board), Beatrice Weder di Mauro (Graduate Institute Geneva, INSEAD Singapore and CEPR), Lucas Guttenberg (Institut Jacques Delors)

12:15 - 14:00 Lunch break

Chair: Beatrice Weder Di Mauro (Graduate Institute Geneva, INSEAD Singapore and CEPR)

14:00 - 15:15 A new policy mix

Introduction: Philippe Martin (Sciences Po, French Council of Economic Analysis and CEPR)

Discussants: Elga Bartsch (Blackrock), Lars Feld (Walter Eucken Institut Freiburg), Rolf Strauch (European Stability Mechanism)

15:15 - 15:30 Break

Chair: Philippe Martin (Sciences Po, French Council of Economic Analysis and CEPR)

15:30 - 16:45 Fiscal union

Introduction: Ramon Marimon (European University Institute, UPF – BSE and CEPR)

Discussants: Agnès Bénassy-Quéré (French Treasury), Mateusz Szczurek (EBRD), Jakob von Weizsäcker (Federal Ministry of Finance), Marco Buti (European Commission)

16:45 Closing remarks by Jean Pisani-Ferry (Senior Fellow, Bruegel and PIIE; Tommaso Padoa-Schioppa chair, EUI and CEPR)

17:00 - 17:45 European Economics Architecture &Policy Network Session

Organising Committee

Jan Pieter Krahnen (SAFE, Goethe University Frankfurt and CEPR)
Ramon Marimon (European University Institute, UPF – BSE and CEPR)
Philippe Martin (Sciences Po, French Council of Economic Analysis and CEPR)
Jean Pisani-Ferry (Senior Fellow, Bruegel and PIIE; Tommaso Padoa-Schioppa chair, EUI and CEPR)
Rolf Strauch (European Stability Mechanism)
Beatrice Weder Di Mauro (Graduate Institute Geneva, INSEAD Singapore and CEPR)

Thursday, December 2, 2021

meeting date:

Wednesday, December 1, 2021 to Thursday, December 2, 2021

This workshop was co-organised by CEPR, ESM, Pierre Werner Chair (RSCAS, EUI) and the University of Luxembourg and took place over two days on Wednesday 1 and Thursday 2 December 2021 in Luxembourg and online as a hybrid event.

The fiscal response to the pandemic has been unprecedented, both at the national and European level, with Next Generation EU being a welcome path-breaking coordinated EU response to the Covid-19 crisis. NGEU is a temporary programme with long-term commitments (debts and reforms) addressing challenges which will not disappear with Covid, while the list of post-Covid challenges is longer: a still fractioned single market, growth in an ageing society, inequality across and within EU countries, global political instability, etc. NGEU will shape the European institutional setting in the longer-term, which raises the question: how it should be to efficiently address all these challenges?

The CEPR Research Policy Network on European Economic Architecture started in September 2018 with a three-year horizon. It has been actively contributing since the start and through the crisis to the discussion and also shaped the idea of a recovery fund. Three years later is a good time to take stoke and reassess – together with other leading researchers and professionals from academia and fiscal and monetary institutions – the after-Covid-19-crisis EU, and euro area, fiscal and monetary policy and institutional framework.

Organising Committee