14 January 2016

Brussels, Belgium

The ECB - Europe’s unelected government

European Central Bank
The European Central Bank is a European institution based in Frankfurt, founded in 1998, to which the countries of the Eurozone have transferred their monetary powers. Its official role is to ensure price stability by combating inflation within that Zone. Its three decision-making organs (the Executive Board, the Governing Council and the General Council) are composed of governors of the central banks of the member states and/or recognized specialists. According to its statutes, it is politically ‘independent’ but it is directly influenced by the world of finance.

- Europe’s unelected government

Thursday, 14 January 2016 9.00-12.30 & 14.30-18.00 Follow this event on live stream Room ASP 1G2

09:00-09.15 Welcome
- Gabi Zimmer, President of the GUE/NGL group
- Matt Carthy, ECON member of GUE/NGL, Sinn Féin

The emergence of new “unconventional” policy measures and alternatives
- MEP Fabio De Masi, GUE/NGL
- Norbert Häring, economist and journalist (currently Handelblatt), initiator and member of shadow ECB council, co-founder and co-director of the World Economics Association, recipient of the Keynes Prize for Economic Writing 2014 of the Keynes Gesellschaft.
- Harald Schumann, investigative journalist (Tagesspiegel), author of the documentaries “Staatsgeheimnis Bankenrettung” and “Troika Troika Troika: IMF, European Commission and European Central Bank, which together impose austerity measures through the conditions tied to loans to countries in difficulty.

IMF : https://www.ecb.europa.eu/home/html/index.en.html
- macht ohne Kontrolle”, concerning the European bank bail-outs and Troika interventions, respectively

ECB involvement in crisis management in different countries
- MEP Dimitris Papadimoulis, GUE/NGL
- Pearse Doherty, Sinn Féin TD and party spokesperson on finance, member of the Irish Committee of Inquiry into the Banking Crisis
- Marika Fragaki, Economist and member of the SYRIZA Political Secretariat; in charge of the economic policy department
- Eric Toussaint, Spokesperson for the CADTM, Scientific coordinator of the Truth Committee on Greek Public Debt

12:30-14:30 Lunch break

Institutional alternatives - Thinking of a democratic and accountable central bank Central Bank The establishment which in a given State is in charge of issuing bank notes and controlling the volume of currency and credit. In France, it is the Banque de France which assumes this role under the auspices of the European Central Bank (see ECB) while in the UK it is the Bank of England.

ECB : http://www.bankofengland.co.uk/Pages/home.aspx

- MEP Paloma Lopez, GUE/NGL
- Johannes Priesemann - Trade unionist at IPSO, the only recognized union at the ECB. IPSO’s immediate goals are improved corporate governance, fair and balanced labour relations, and the application of democratic principles and standards of law.
- Emilios Avgouleas, Professor in International Banking Law and Finance Chair at the University of Edinburgh; acknowledged expert on financial market Financial market The market for long-term capital. It comprises a primary market, where new issues are sold, and a secondary market, where existing securities are traded. Aside from the regulated markets, there are over-the-counter markets which are not required to meet minimum conditions. regulation, banking law and finance, and global economic governance
- Connor McCabe, Irish political economist and lecturer in University City Dublin, author of the book, ’Sins of the Father’, regular contributor to the economic debate in Ireland through his articles and posts in Irish left Journal Review, Social Justice Review and elsewhere.

Policy alternatives - Progressive alternatives to current economic policies
- MEP Miguel Urban, GUE/NGL
- Andreas Nölke, Professor of International Relations and International Political Economy, at the Goethe University Frankfurt/Main.
- Carlos Carvalhas, Economist, Member of PCP’s Committee for Economic Activities, Ex-Director of the magazine “Economia Política”, PCP’s General Secretary from 1992 to 2004

17:30- 18:00
- Closing remarks
- MEP Fabio De Masi, GUE/NGL
- MEPJoão Ferreira, GUE/NGL


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