Chamber of Commerce of Luxembourg (25 September 1967)
Agenda
Conferences & Workshops
Inauguration of the Photo Exhibition
In-Person Event
University of Luxembourg, Belval Campus
Maison du Savoir (MSA) (2, avenue de l’Université L-4365 Esch-sur-Alzette)
10:00 – 11:00
The early days of Economic and Monetary Union:
Pierre Werner, a pragmatic visionary
Welcome
Catherine Léglu, Professor, Vice-Rector for Academic Affairs, University of Luxembourg
Opening addresses
Andreas Fickers, Director of the Luxembourg Centre for Contemporary and Digital History, University of Luxembourg
Jacques Santer, Prime Minister of Luxembourg (1984-1995), President of the European Commission (1995-2000), President of the Fondation du Mérite Européen
Dieter Schlenker, Director of the Historical Archives of the European Union, Florence (Via Webex)
Bridge Forum Dialogue Outstanding Online Event
Conference available via live streaming (provided by the Media Centre of the University of Luxembourg).
15:00 – 16:30
The Economic And Monetary Union By Stages
Anniversaries of the Werner Report and the Euro Rescue Funds
Introduction
Pierre Gramegna, Minister of Finance of Luxembourg
Panel discussion
Chair
Werner Hoyer, President of the European Investment Bank
Participants
Christine Lagarde, President of the European Central Bank
Valdis Dombrovskis, Executive Vice-President of the European Commission
Paschal Donohoe, President of the Eurogroup and Chairperson of the ESM Board of Governors
Klaus Regling, Managing Director of the European Stability Mechanism
Conclusion
Stéphane Pallage, Professor, Rector of the University of Luxembourg
The Werner Report, 50 Years On.
Economic and Monetary Union in Uncertain Times: Learning from the Past to Navigate the Future
Conference available via live streaming (provided by the Media Centre of the University of Luxembourg)
University of Luxembourg, Belval Campus
Maison des Arts et des Étudiants (MAE) (Avenue de la Fonte, 4362 Esch-sur-Alzette)
08:00-09:00
Registration
09:00-10:30
Plenary Inaugural Session
Opening addresses
Stéphane Pallage, Professor, Rector of the University of Luxembourg
Renaud Dehousse, Professor, President of the European University Institute, Florence (Via Webex)
Introductory remarks
Andreas Fickers, Director of Luxembourg Center for Contemporary and Digital History, University of Luxembourg
Ramon Marimon, Professor, Pierre Werner Chair on Monetary Union, European University Institute, Florence
Introductory lecture
Pierre Gramegna, Minister of Finance of Luxembourg
Moderator
Elena Danescu, Research Scientist, Luxembourg Center for Contemporary and Digital History, University of Luxembourg
10:30 – 10:45
Break
Keynote
10:45 – 11:45
Loukas Tsoukalis, Professor, Paris School of International Affairs, Sciences Po, Paris –
President of the Hellenic Foundation for European & Foreign Policy (ELIAMEP), Athens (On Video)
Part I. Learning from the Past
11:45 – 13:00
Plenary Session
Between Memory and History: Epistemic Communities in Building the Economic and Monetary Union
Chair
Bernard Snoy et d’Oppuers, President of Robert Triffin International, Professor at the Université Catholique de Louvain
Participants
Pierre Werner, Robert Triffin, Jean Monnet and European monetary cooperation from the 1960s to the 1980s (the emerging concept of a “European reserve fund”)
Elena Danescu, Research Scientist, Luxembourg Centre for Contemporary and Digital History, University of Luxembourg
Pierre Werner
Ivo Maes, Professor, Université Catholique de Louvain, National Bank of Belgium and Ilaria Pasotti, Researcher, Catholic University of Milan (Via Webex)
Robert Triffin
Gilles Grin, Director, Fondation Jean Monnet pour l’Europe- Lausanne (Via Webex)
Jean Monnet
10:00 – 14:15
Lunch
Part II. Assessing the Present – Drivers of Change
14:15 – 15:30
The Economic and Monetary Union Architecture After the COVID-19 Crisis
Chair
Katalin Ligeti, Dean of the Faculty of Law, Economics and Finance, University of Luxembourg
Participants
Marco Buti, Head of Cabinet of the European Commissioner for the Economy (Via Webex)
Giancarlo Corsetti, Professor of Macroeconomics, University of Cambridge (Via Webex)
Ramon Marimon, Professor, Pierre Werner Chair on Monetary Union, European University Institute, Florence
Rolf Strauch, Chief Economist, European Stability Mechanism
15:30 – 15:45
Break
15:45 – 17:15
Parallel Sessions
Part I. Learning from the Past
15:45 – 17:15
Parallel session
The Werner Report, the Delors Report and Beyond – (a)Symmetries Convergences in Building the Economic and Monetary Union et
Ellipse conference room - Luxembourg Learning Center (LLC)
Chair
Elena Danescu, Research Scientist, Luxembourg Centre for Contemporary and Digital History, University of Luxembourg
Participants
Vincent Dujardin, Professor, Institute for Analysis of Change in Contemporary and Historical Societies, Louvain
The Werner Report perception in Belgium
Giovanni Farese, Associate Professor, European University of Rome
The Werner Report and the Carli Plan
Michael Ambrosi, Emeritus Professor, Trier University (Via Webex)
The Werner Report and the international role of the euro
15:45 – 17:15
Parallel session
The Delors Report and a Critical Assessment of the Maastricht Economic and Monetary Union
Halle des poches à fonte, Belval
Chair
Valérie Schafer, Professor, Luxembourg Centre for Contemporary and Digital History, University of Luxembourg
Participants
Eric Bussière, Professor, University Paris IV-Sorbonne
Delors Report & Maastricht Economic and Monetary Union
Emmanuel Mourlon-Druol, Professor, University of Glasgow (via Webex)
A text mining into the records of the Delors Committee meetings
Part II. Assessing the Present – Drivers of Change
15:45 – 17:15
Parallel session
Tales From Crisis
Auditorium 3.500, Masion du Savoir (MSA)
Chair
David Howarth, Professor, University of Luxembourg, Robert Schuman Initiative for European Affairs
Participants
Francesco Papadia, Senior Researcher, Chair of the Selection Panel of the Hellenic Financial Stability Fund, Senior Resident Fellow at Bruegel (via Webex)
Diverging narratives of the euro area – a historical perspective
Christian Ghymers, Professor, ICHEC Brussels Management School, Robert Triffin International
The Economic and Monetary Union crisis viewed from the Werner Report and the Triffin plans
Marie-Claude Esposito, Emeritus Professor, Université Sorbonne Nouvelle-Paris III (via Webex)
Lessons from Brexit
Daniel Gros, Director, Centre for European Policy Studies
Martin Selmayr, Professor, Centrum für Europarecht an der Universität Passau (via Webex)
15:45 – 17:15
Parallel session
The Economic and Monetary Union Facing Current Challenges
Auditorium 3.530, Masion du Savoir (MSA)
Chair
Benoît Majerus, Professor, Luxembourg Centre for Contemporary and Digital History, University of Luxembourg
Participants
Erik Jones, Professor, School of Advanced International Studies of the Johns Hopkins University, USA (via Webex)
The relationship between monetary union and political union
Lars Magnusson, Professor, Uppsala University (via Webex)
The enhanced fiscal integration within Economic and Monetary Union
Ad van Riet, Associate Senior Research Fellow, Institute on Comparative Integration Studies, United Nation University (via Webex)
Economic and Monetary Union fiscal integration in support of the ECB: whatever it takes in a crisis?
Fabio Masini, Professor, Università Roma Tré and Alfonso Iozzo, Robert Triffin International
From the European Stability Mechanism to the European Monetary Fund
17:15 – 17:30
Break
Part III. Navigating the Future
17:30 – 18:45
Plenary Session
The New Fiscal Dimensions of the Single Market: European Public Goods, Corporate Taxes, Debt… Is There a Need for an EU Treasury?
Maison des Arts et des Étudiants (MAE)
Chair
Viviane Reding, Former member of the European Parliament and European Commissioner
Participants
Joaquín Almunia, former European Commissioner and Vice-President of the European Commission (via Webex)
Roel Beetsma, Member of the European Fiscal Board and Professor at the University of Amsterdam
Kathrin Muehlbronner, Senior Vice President – Sovereign Risk Group, Moody’s Investors Service (via Webex)
Frank Smets, Director General Economics, European Central Bank (via Webex)
19:30 – 21:00
Conference Dinner
The Werner Report, 50 Years on the Economic and Monetary Union in Uncertain Times: Learning From the Past to Navigate the Future
Conference available via live streaming (provided by the Media Centre of the University of Luxembourg).
University of Luxembourg, Belval Campus
Maison des Arts et des Étudiants (MAE) (Avenue de la Fonte, 4362 Esch-sur-Alzette)
08:00 – 08:30
Registration
08:30 – 09:30
Plenary session
The Power of Ideas
Mid-keynote
Harold James, Professor, Princeton University, USA (on video)
09:30 – 10:45
Parallel sessions
Part II. Assessing the Present – Drivers of Change
The Economic and Monetary Union in Uncertain Times
09:30 – 10:45
Parallel session – Round Table
Central Banking in Turbulent Times
Ellipse conference room - Luxembourg Learning Center (LLC)
Chair
Ivo Maes, Professor, Université Catholique de Louvain/National Bank of Belgium (via Webex)
Participants
Fabian Amtenbrink, Professor, Erasmus School of Law, Erasmus University Rotterdam (via Webex)
The judicialization of Economic and Monetary Union
André Prüm, Professor, University of Luxembourg
Judicial review of the ECB’s monetary decisions in light of the recent decision by the German Constitutional Court on the PSPP program
Joachim Schild, Professor, Trier University
Risk sharing, risk reduction and solidarity in the process of deepening the Economic and Monetary Union
09:30 – 10:45
Parallel session
The International Role of the Euro
Halle des poches à fonte, Belval
Chair
Christian Ghymers, Professor, ICHEC Brussels Management School, Robert Triffin International
Participants
Bernard Snoy et d’Oppuers, Professor, President of Robert Triffin International
The international role of the euro
Alfred Steinherr, Professor, Miami University
10:45 – 11:00
Break
Plenary Session – Round Table
Archives as Spaces of Memory – (Re)Constructing the History of the Economic and Monetary Union
Maison des Arts et des Étudiants (MAE)
Moderator
Andreas Fickers, Professor, Director of the Luxembourg Centre for Contemporary and Digital History, University of Luxembourg
Participants
Gilles Grin, Director, Fondation Jean Monnet pour l’Europe – Lausanne (via Webex)
Birgit Olsen, Coordinator, Archives of the European Investment Bank
Dieter Schlenker, Director, Historical Archives of the European Union (via Webex)
Henri Werner, Pierre Werner Family Archives
12:15 – 13:15
Plenary Session
End keynote
Yves Mersch, Member of the Executive Board of the European Central Bank (on video)
13:15 – 13:30
Final Plenary Session
Conclusion
Elena Danescu, Research Scientist, Luxembourg Centre for Contemporary and Digital History, University of Luxembourg
Closing address
Catherine Léglu, Professor, Vice-Rector for Academic Affairs, University of Luxembourg
Crunch time for the Economic and Monetary Union
Hybrid Event (Will be held in person and online)
Chamber of Commerce (7 Rue Alcide de Gasperi, 2981 Luxembourg)
18:00 – 19:30
Conference and Debate
Opening Address
Jacques Santer, Prime Minister, Minister of State and Minister for Finance of Luxembourg (1984‒1995), President of the European Commission (1995‒1999)
Lecture
Niels Thygesen, Emeritus Professor University of Copenhagen, President of the European Fiscal Board
Debate
Participants
André Sapir, Professor, Senior Research Fellow, Bruegel
Niels Thygesen, Emeritus Professor University of Copenhagen, President of the European Fiscal Board
Moderator
Douwe Miedema, Editor in Chief – Luxembourg Times
A Dynamic Economic and Monetary Union Workshop
Online Event
European Stability Mechanism (6a Circuit de la Foire Internationale, L-1347 Luxembourg)
Session 1: Debt and Internal Devaluations
9:00 - 10:00
Luca Dedola, Federal Reserve Bank of Minneapolis (With Giancarlo Corsetti, Professor of Macroeconomics, University of Cambridge and R. Trezzi)
The missing internal devaluation: Regional adjustment in the US Great Recession
10:00 – 11:00
Carlo Galli, University College London
Inflation, Default Risk and Nominal Debt
11:00
Break
Session 2: Unions With Default
11:20 - 12:10
Alessandro Ferrari, European University Institute (with Ramon Marimon, Chair of the Pierre Werner Chair Programme on Monetary Union, European University Institute, Florence and C. Simpson-Bell)
Fiscal and Currency Union with Default and Exit
12:10 - 13:00
Adrien Wicht, European University Institute (With Y. Liu and Ramon Marimon, Chair of the Pierre Werner Chair Programme on Monetary Union, European University Institute, Florence)
Making Sovereign Debt Safe with a Financial Stability Fund
13:00
Lunch
Session 3: Fiscal and Monetary Policies
13:20 - 14:20
Marco Basseto, Federal Reserve Bank of Minneapolis (With T. Sargent)
Shotgun Weddings between Monetary and Fiscal Policies
14:20 - 15:20
Dejanir Silva, University of Illinois, Urbana-Champaign
Optimal Fiscal Consolidation under Frictional Financial Markets
Break
15:40-16:50
Invited Speaker
John Moore, University of Edinburgh (With N. Kiyotaki and S. Zhang)
Low Interest Rate and Misallocation
20:30
Workshop Dinner (speakers and organisers)
Research Seminar
The Future of Money in the Digital Age
Online Event
10:00 – 11:30
Blockchain and Cryptocurrencies. Digital Currencies vs Sovereign Currencies: Potential Implications for the Economic and Monetary Union
Lecture followed by a debate
Claus Brand, Expert, European Central Bank (via Webex)
A Dynamic Economic and Monetary Union Workshop
Online Event
University of Luxembourg, Belval Campus
Session 1: Labour Mobility and Migration
9:00 – 10:00
Pedro Teles, Banco de Portugal and Universidade Católica-Lisbon SBE (With J. Guerreiro and S. Rebelo)
What is the Optimal Immigration Policy? Migration, Jobs and welfare
10:00 – 11:00
Christian Pröbsting, EPFL (With S. Bigio and J. Passadore)
Quantifying the Benefits of Labour Mobility in a Currency Union
11:00
Break
Session 2: Monetary and Financial Unions
11:20 – 12:20
Luca Fornaro, CREI
Monetary Union and Financial Integration
12:20 – 13:20
Markus Sihvone, Bank of Finland
Does a Currency Union Need a Capital Market Union? Risk Sharing via Banks and Markets
13:20
Lunch
Invited speaker
14:30-15:40
Víctor Ríos-Rull, University of Pennsylvania (With A. Glover, J. Heathcote and D. Krueger)
Health versus Wealth: On the Distributional Effects of Controlling a Pandemic
Photo & video disclaimer
Photographs & videos may be taken for personal use. During the event, the organiser will take pictures and record videos. By registering, guests authorise the University of Luxembourg to record and publish their image in photographic and video format for communications in relation to the event. The organiser undertakes to use this material responsibly, in other words for communications purposes only and not for commercial use.