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SAFE: 6th Frankfurt Conference on Financial Market Policy European Financial Markets – Too Much Variety?
Ever since the First Banking Directive of 1977, efforts at integrating European financial markets have been on the European agenda. Arguably, the Single European Act (1986), freeing cross-border financial movements within the Union, provided the scene for the EMS crisis of 1992, ultimately leading to the common currency. The Great Financial Crisis (2008) and, more specifically, the sovereign debt troubles in the Euro Area’s periphery (2010-11) forced a Banking Union on the Euro Area, deemed, for political-economic reasons, simply unfeasible (as well as unnecessary) before. The call for more union (in banking and capital markets) raises the question whether there is too much variety in the Euro Area’s financial markets.
Goethe University’s SAFE Policy Center will devote its 6th Frankfurt Conference on Financial Market Policy on December 14, 2018 on an assessment where we have ended up after all the institutional reforms which have been implemented ever since 2012. A particular spotlight will be shed on the Europe’s evolving banking landscape. And we will also ponder the pros and cons (or limits) of variety in finance.
The 6th Frankfurt Conference will bring together policymakers, academics as well as industry participants. Its objective is to allow for an instructive debate in order to contribute to the public’s capacity to critically evaluate arguments and derive a judgment on policy initiatives proposed.