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European open strategic autonomy: what way forward for the financial sector?

Day 2 Afternoon

Thursday 08 September

Room :

CONGRESS HALL 1

Speakers

Chair
Tuomas Saarenheimo
President of the Eurogroup Working Group and the Economic and Financial Committee - Council of the European Union - DG for Economic Affairs and Competitiveness
Public Authorities
John Berrigan
Director General - DG for Financial Stability, Financial Services and Capital Markets Union, European Commission
Carlos Cuerpo Caballero
Secretary General of the Treasury and International Financing - Ministry of Economy and Digitalization, Spain
Emmanuel Moulin
Director General of the Treasury - Ministry of the Economy, Finance and Industrial and Digital Sovereignty, France
Irene Tinagli
Chair & MEP - Committee on Economic and Monetary Affairs, European Parliament
Gediminas Šimkus
Governor - Bank of Lithuania
Industry Representatives
Stéphane Boujnah
Chief Executive Officer and Chairman of the Managing Board - Euronext Paris
Vitorio Grilli
Chairman of the Corporate and Investment Bank EMEA - J.P. Morgan
Franco Passacantando
Deputy Chairman - Euroclear S.A.

Objectives of the session

10 years after the creation of the Banking Union and 7 years after the launch of the first CMU initiative, European banking and capital markets remain fragmented within the EU.

On 19 January 2021, the Commission issued a communication which sets out how the EU can reinforce its open strategic autonomy in the macro-economic and financial fields.

The objective of this session is to take stock of progress on the first two pillars 18 months after the publication of the Communication of the Commission and to identify further priorities for the coming years.

Points of discussion

  1. How “autonomous” is the EU’s financial sector today? Is the aim for European financial autonomy on track given the lack of progress on Banking Union, the single banking market and CMU? What are the priority areas where the EU’s financial autonomy needs to be reinforced and why?
  2. What are the key drivers to deliver European financial autonomy by the end of the decade? How can Europe’s strategic autonomy progress without ensuring the convergence of Member States’ fiscal and structural policies?