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22/11/2010 - 23/11/2010 : DG ECFIN 7th Annual Research Conference 2010, Charlemagne Building, Brussels

Governments and markets after the crisis: Finding a new balance.

The global financial crisis and its fall-out reignite the debate about the role for governments and markets. The systemic failure in financial markets has shattered fundamental beliefs in the ability of markets to deliver macro-economic stability and growth, while prompting government intervention at an unprecedented scale. Maintaining open markets, sustaining economic and financial stability, and ensuring socially inclusive societies in the post-crisis world calls for new approaches to the governance of markets between the extremes of free-market fundamentalism and government interventionism. The conference will explore such new set-ups in areas such as the architecture of financial systems, international trade and exchange rate regimes, intra-EU adjustment mechanisms, and the design of modern welfare state arrangements.

At this year's conference eminent scholars and top economic policy makers discussed the following lead questions:

  • Where do we stand with fair and measured regulatory reform to strengthen the global financial system? How to reduce the risks posed to taxpayers and to broader social objectives
  • What is the respective role of markets and government to rebalance the world economy? What can improved co-ordination and better governance at the supra-national level achieve?
  • How to prevent intra-EU capital flows to nurture instabilities? Do we need fiscal mechanisms beyond the Stability and Growth Pact?
  • How to restore the sustainability of public finances without running into persistently high unemployment? Do high levels of public debt impair growth prospects?
  • How to match efficiency with fairness in modern welfare systems when public coffers are empty? What are the limits of market-driven growth to combat inequality, poverty and social exclusion?

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Further information
Further information about this event can be obtained from the Chair of the Programme Committee:

Karl Pichelmann
Senior Adviser
DG Economic and Financial Affairs
European Commission
European Commission
Office: BU-1 05/184
B-1049 Brussels, Belgium

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