On 11 and 12 April 2013, the Oxford Law & Finance Group hosted a conference on ‘The Eurozone Banking Union – Messiah or Flight of Fancy?’. The conference was organised by Professors Paul Davies and Wolf-Georg Ringe.
The conference brought together scholars, practitioners and regulators from across Europe and the US to discuss the impact of the proposed Banking Union. The conference was organised along the ‘three pillars’ of the Banking Union – supervision, resolution, and deposit guarantee – and united views from academics, the banking sector and European and UK regulators.
Papers and presentations were given inter alia by Thomas Huertas (Ernst & Young, formerly FSA), Guido Ferrarini (Genoa), Jeffrey Gordon (Columbia), Gérard Hertig (ETH Zurich), Luca Enriques (Harvard/Rome), Elena Carletti (EUI), Carol Sergeant (Liikanen Group) and Georg Ringe (Oxford/Copenhagen). The conference benefitted from two panel sessions and other contributions by Eddy Wymeersch (Ghent), Clemens Fuest (Mannheim/SBS), Eilís Ferran (Cambridge), Tobias Tröger (Frankfurt), Simon Gleeson (Clifford Chance), Dan Awrey (Oxford), Paul Davies (Oxford), Bob Penn (Allen & Overy), Andrew Whittaker (Lloyd’s, formerly FSA), Carmine di Noia (Assonime), Ben Davey (Barclays), and Franz-Christoph Zeitler (formerly, Bundesbank)
The topics considered included economic and legal problems of the proposed Banking Union, its operability in practice and the context of the European financial regulatory framework. A number of contributions drew on the perspective of political economy to explain the project. The two days’ discussions yielded a frank and constructive dialogue. It was generally felt that the Banking Union is a worthwhile project but needs to be shaped in a robust legal framework and responding to key economic incentives.
Paul Davies and Georg Ringe
(l-r): Matthias Haentjens, Franz-Christoph Zeitler, Guido Ferrarini
Thomas Huertas and Jeffrey Gordon in conversation
Georg Ringe and Carmine Di Noia