Due to the spread of the coronavirus, we have decided to re-schedule The ECB and Its Watchers XXI that was originally going to be held on March 24, 2020 / May 19, 2020. The new date will be September 30, 2020. All issued tickets will retain their validity for the new conference date.

The ECB and Its Watchers XXI

September 30, 2020

Casino Festsaal
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)