The ECB and Its Watchers XXI

March 24, 2020

Campus Westend
Goethe University Frankfurt

Please note that attendance of "The ECB and Its Watchers" conference is by invitation only.

Organization: Prof. Volker Wieland
Media contact: Natascha Lenz


08:30 – 09:15

Registration and Coffee

09:15 – 09:20

Volker Wieland (Institute for Monetary and Financial Stability)

09:20 – 10:00

President's Address
Christine Lagarde
(President of the European Central Bank)

10:00 – 11:30

Debate 1: The ECB's Mandate: Does It Need to Be Modified to Be Fit for the Future?

Chair: Jens Weidmann (Deutsche Bundesbank)


Christian Noyer (Banque de France)
Jordi Galí (CREI and Universitat Pompeu Fabra)
Helmut Siekmann (Institute for Monetary and Financial Stability)

Lead questions:

Elga Bartsch (BlackRock)
Thomas Möllers (University of Augsburg)
Mauricio Vargas (Union Investment)

11:30 – 12:00 Coffee Break

12:00 – 13:30

Debate 2: The ECB's Instrument for Crises and Normal Times

Chair: Pablo Hernández de Cos (Banco de España)


Athanasios Orphanides (MIT Sloan School of Management)
Lucrezia Reichlin
(London Business School)
Claudio Borio (Bank for International Settlements)

Lead questions:

Katharina Utermöhl (Allianz)
Ulrich Kater (DekaBank)
Jari Stehn (Goldman Sachs)

13:30 – 15:00


15:00 – 16:30

Debate 3: The ECB's Monetary Policy Strategy: Lessons From the Financial Crisis, Debt Crisis and Double Recession

Chair: François Villeroy de Galhau (Banque de France)


Otmar Issing (Center for Financial Studies)
Petra Geraats (University of Cambridge)
John B. Taylor
(Hoover Institution, Stanford University)

Lead questions:

Paul Gruenwald (S&P Global Ratings)
Julian Callow (Element Capital)
Dirk Schumacher (Natixis)

16:30 – 17:00

Conference Wrap-Up

Philip Lane (European Central Bank)