The European Investment Bank (EIB), alongside the European Commission (EC) and the European Stability Mechanism (ESM), hosted the seventh Capital Markets Seminar on 1 and 2 October, in a hybrid format.
With a record number of over 450 participants this year, the seminar has become a key event for gaining insights into EU perspectives on capital markets. Participants included investors, intermediaries, issuers and policymakers.
The focus of the seminar was how the three co-host institutions finance European values through capital markets, with an emphasis on sustainable finance, as well as digital euro, the international role of the euro and the advancements for the Savings and Investment Union.
The event opened with a keynote speech by Pierre Gramegna, Managing Director of the ESM, who emphasised that in these times of geopolitical turmoil and economic fragmentation, what Europe needs “is to act, act, and act”, which calls for more Europe, not less, to ensure that it remains a major economic force. Piotr Serafin, European Commissioner for Budget, Anti-fraud and Public Administration highlighted the EU’s role in financing policy priorities through its well-established issuer status in global financial markets, as well as the Commission’s proposals for new borrowing programmes to support Member States and EU partners under the EU’s next multi-annual budget.
Key highlights of the first day included also a high-level panel titled “Investing in Europe: at the nexus of values and vision” and a fireside chat with Bettina Orlopp, Chief Executive Officer, Commerzbank AG, exploring recent geopolitical and macroeconomic shifts and their impact on European capital markets, the prospects for the euro as a global reserve currency and key steps to advance the Saving and Investment Union.
The following panel discussed challenges and solutions in “Navigating geoeconomic fragmentation” in the current environment of global challenges.
This was then followed by an Investor Panel on their current perspective on capital markets.
The second day of the conference opened with an introduction by Françoise Thoma, President and CEO Banque et Caisse d'Épargne de l'État (BCEE).
EIB President Nadia Calviño then provided an inspiring keynote speech on the importance of Europe as a beacon of stability and trust and the role of the EIB as the EU bank on standing the course on climate and financing Europe’s innovation, security and competitiveness. A fireside chat with Patrick Montagner, Member of the Supervisory Board, European Central Bank (ECB representative) about “Stability and Sustainability” was followed by an insightful panel on sustainable finance.
The day proceeded with a panel discussion on “Funding Journey in a time of change” giving the views of the three co-hosts from an issuer point of view, followed by a fireside chat with Valerie Urbain, CEO Euroclear, who talked about the market’s perspective on the development of the settlement infrastructure in Europe.
The conference concluded with a motivating interview by EIB Vice President Ambroise Fayolle of François Villeroy de Galhau, Governor of the Banque de France about monetary policy “agility”, independence of central banks and the digital euro.
Video recordings / links for speeches of: