CEPII - Event

Rencontres
Europe et International

Monday July 10, 2017

17.00-19.00

Uncertainty surrounds the future of the European Union and its place in the world. The crisis set in motion a whole range of initiatives and institutional changes and in Europe, both at the EU28 and euro area levels. These now have to blossom into a solid and durable edifice.

A challenge is therefore to make sure that the next steps in European integration live up to the economic, institutional, political, social and governance challenges that Europe is facing.

In that context, CEPII and France Stratégie have launched a series of monthly events – lunchtalks - about Europe with the aim to bring together officials, academics, as well as practitioners and corporates around a relevant speaker selected for his relevance for European matters.

Lord Turner présente son dernier ouvrage « Reprendre le contrôle de la dette: pour une réforme radicale du système financier »

	Lord Turner Président de Institute for New Economic Thinking ancien Président de Financial Services Authority du Royaume-Uni (2008-2013)
	Jean-Claude Trichet ancien Président de la Banque Centrale Européenne (2003-2011)
	Olivier Garnier Chef économiste, Groupe Société Générale

Although public debt has been the focus of attention for the past few years, excessive private credit and ‎indebtedness is what policymakers should really be worrying about. By fuelling cycles of real-estate ‎bubbles, financial crises and depressions, it currently poses one of the greatest threats to developed ‎economies. This is the thesis put forward by Lord Turner, who headed the UK Financial ‎Services Authority from 2008 to 2013, in a book - "Between Debt and the Devil : Money, Credit and Fixing Global Finance", Princeton University Press, 2015 - recently translated into French.

Because excessive credit growth can only lead to chronic instability, the former regulator calls for a ‎radical reform of the banking system and direct control of credit and its allocation. To remedy past ‎mistakes, he also argues that debt monetisation by central banks should be on the table.‎

During this conference, Adair Turner will present his analysis and the solutions put forward in ‎his book. They will be debated by the former President of the European Central Bank, Jean-Claude ‎Trichet , and the Chief Economist of Société Générale, Olivier Garnier. The presentation will be ‎followed by a general discussion and questions from the audience.

By invitation only.
The event will take place under the Chatham House Rule. The presentations and discussion will be held in English.
Contact: conferences@cepii.fr