Given the hybrid nature of the conference, some of the speakers will be participating remotely. Seating is extremely limited due to health regulations. Access to the venue is only possible with prior confirmation. Access to the non-public video livestream is only possible after registration.

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


08:15 – 09:15


09:15 – 09:30


Volker Wieland (Institute for Monetary and Financial Stability)
Birgitta Wolff (Goethe University Frankfurt)

09:30 – 10:15

President's Address

Christine Lagarde (President of the European Central Bank)

10:15 – 11:45

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:

Thomas Möllers (University of Augsburg)
Elga Bartsch (BlackRock)
Jörg Zeuner (Union Investment)

11:45 – 12:00 Break

12:00 – 13:30

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

Chair: Pablo Hernández de Cos (Banco de España)


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

Lead questions:

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

13:30 – 14:30


14:30 – 16:00

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:

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

16:00 – 16:30

Conference Wrap-Up

Philip Lane (European Central Bank)