SAFE Policy Lecture: Thomas Wieser
Europe’s Financial Architecture: Delivering on Stability
Chairman, Euro-Working Group, Council of the European Union
Thomas Wieser will address recent changes to the landscape of financial sector oversight in Europe. He will focus on the new approach to the supervision of financial institutions as well as the resolution regimes to be applied. Financial institutions from the Euro Area and other Member States will be supervised – directly and indirectly – by a Single Supervisor. Costs of resolution should to the largest degree possible be borne by investors, and not the taxpayer. Resolution funds will be progressively mutualised over the next decade, and will thus cut – to a very large extent – the link between bank and sovereign balance sheets. These institutional changes will have important consequences for financial stability, and substantially contribute to the resilience of the institutional landscape of the EU.
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, Austria, in charge of macro-economic policy, international and EU affairs, financial market legislation, and export credits and guarantees.
He taught at the University of Colorado, Boulder (Fulbright scholarship), as well as the Institute of Advanced Studies, Vienna. He spent 4 years as an economist in EFTA in Geneva, where he was in charge of negotiations with the EU on state aid affairs. Prior to this, 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.