SAFE thanks Peter Praet

At the end of his term at the European Central Bank, Praet leaves the SAFE Policy Council after six years as Chairman

Peter Praet chaired the SAFE Policy Council for the last time last Tuesday. On 31 May 2019, his term as a member of the Executive Board and Chief Economist of the European Central Bank (ECB) ends, at the same time he resigns as Chairman of the SAFE Policy Council. Praet has chaired the advisory board since the formation of the SAFE Research Centre in 2013; his successor has not yet been determined.

The Board advises the Policy Centre, which at SAFE is dedicated to science-based policy advice, and supports it in its efforts to build and use for dialogue a network of policy-makers and political institutions within and outside Europe.

After the Policy Council's regular meeting, Jan Pieter Krahnen, Programme Director of the Policy Center, thanked Peter Praet at a reception for his work over the past years. "Peter Praet has played a key role in building SAFE, from its formation to its recent consolidation. We are very grateful for this support," said Krahnen. He emphasized the role of the advisory board, which has been critically monitoring the Policy Center's work for many years, identifying relevant issues and providing important inspirations.

John Berrigan, Deputy Director-General for Financial Stability, Financial Services and Capital Markets Union at the European Commission, thanked Praet on behalf of the panel. "Peter Praet was the ideal chairman for the SAFE Policy Council," said Berrigan. He highlighted two qualities of Praet: first, his firm commitment to European integration, and second, not to be naïve and to recognize the advantages and disadvantages of possible policies towards more European integration.

In his speech, Praet outlined the challenges facing the European Union. Given the situation, there is a great urgency for more cooperation in Europe, he said. Praet cited the Brexit and the aftermath of the economic and financial crisis as examples. "I wish SAFE continued success in meeting these challenges in the future," said Praet.