SAFE Policy Lecture: Thomas Wieser
Title: Are We Up for a Re-nationalization of Regulation?
Speaker: Thomas Wieser, Chairman, Euro-Working Group, Council of the European Union
Moderator: Hans-Helmut Kotz, SAFE and Harvard University
For more than a year, beginning in October 2008, at the nadir of the Great Financial Crisis, international cooperation in financial market regulation was at its peak, deemed indispensable. The G20 process put a list of objectives to paper and charged the Financial Stability Board with conceiving appropriate tools and procedures to underwrite the international public good of financial stability. Over time, for a series of reasons, dedication to this effort waned, however. National perspectives gained ground, though within the limits of collective efforts. The new U.S. Administration is apparently up for changing course substantially. First and foremost, it’s U.S. priorities which count. In an integrated financial world, this inevitably comes with challenges, in particular for Europe.
Thomas Wieser is Chairman of the Euro Working Group as well as President of the Economic and Financial Committee. Prior to this he was Director General for Economic Policy and Financial Markets in the Ministry of Finance, Vienna, in charge of macro-economic policy, international and EU affairs, financial market legislation, and export credits and guarantees.
After graduating in Economics (University of Innsbruck), he pursued post-graduate studies in theoretical and mathematical economics and taught at the University of Colorado, Boulder (Fulbright scholarship) as well as at the Institute of Advanced Studies, Vienna. He spent 4 years with EFTA in Geneva, where his responsibilities included negotiations with the EU on state aid affairs. Prior to that, he worked in banking in Vienna and as a research economist. He chaired the OECD Committee on Financial Markets from 2005-2009 and served as the President of the Economic and Financial Committee of the EU from March 2009 to March 2011 and was re-elected in January 2012.