Speakers of the session
Klaus ReglingEuropean Stability Mechanism, Managing Director
Nadia Calviño Nadia CalviñoMinistry of Economy and Business, Spain, The Minister
Pierre GramegnaMinistry of Finance, Luxembourg, The Minister
Vilius ŠapokaMinistry of Finance of the Republic of Lithuania, Minister
Objectives of the sessionGlobal and European economic and political challenges and risks recently intensified and increasingly affect the euro area (e.g. trade wars, Brexit…). Against this background, it is important to continue and complete the work on deepening EMU. The package on deepening EMU endorsed by the Euro Summit in June 2019 represents an important step to make the euro area more robust and better prepared for possible future problems. In this context, it is essential to agree on the need for more risk sharing in EMU and on the success factors to achieve more risk sharing through private and public channels.
Speakers will be invited to express their views on the need for more risk sharing in EMU; the economic prerequisites and success factors required to achieve both private and public risk sharing; how a consensus on more risk sharing among euro area member states may look like; and, the common denominator necessary to obtain such a consensus including on the next steps.
Points of discussionWhy do we need more risk sharing in EMU?
How to achieve more private risk sharing? And, what are the economic and financial prerequisites to achieve more private risk sharing in the euro area?
How to achieve more fiscal risk sharing?