Navigation Path: Home > Events > Conferences & seminars > ECB Public Finance Workshop, Challenges for sovereign debt management
European Central Bank
Eurotower, CIV (2nd floor)
Kaiserstrasse 29
D-60311 Frankfurt am Main
Please note that the workshop was by invitation only.
| 19.30 | Conference dinner Venue: KUBU Restaurant, Am Opernplatz 2, 60313 Frankfurt/Main |
| 08.30 | Registration and coffee |
| 09:00-09:15 |
Welcome and introduction
Peter Praet (Member of the ECB Executive Board) |
| 09:15-10:00 | Opening address: Sovereign Debt Management and Fiscal Vulnerabilities Alessandro Missale (University of Milan) |
| 10:00-11:30 | Session 1: Sovereign Debt Management and the Economy Chair: Ad van Riet (ECB) |
| 10.00-10.20 | "New and complex interactions between sovereign debt management andmonetary policy under fiscal dominance and financial instability"
download Hans J. Blommestein (OECD), Philip Turner (BIS) |
| 10:20-10.40 | "The real effects of debt" Stephen G. Cecchetti (BIS), M. S. Mohanty (BIS) and Fabrizio Zampolli (BIS) |
| 10.40-11.00 | Discussant: Andreas Beyer (ECB) download |
| 11.00-11.10 | General discussion |
| 11.10-11.30 | Coffee Break |
| 11:30-12:40 | Session 2: Sovereign Debt Management and Fiscal Risks Chair: Ludger Schuknecht (ECB) |
| 11.30-11.50 | "“Sovereign default vs. fiscal adjustment in a currency area: a model-based approach"
download Lorenzo Forni (IMF), Massimiliano Pisani (Bank of Italy) |
| 11.50-12.10 | "Sovereign risk, uncertainty and policy"
download Juha Kilponen (EFSF), Helina Laakkonen (University of Helsinki), Jouko Vilumen (Bank of Finland) |
| 12.10-12.30 | Discussant: Christophe Kamps (ECB) download |
| 12.30-12.50 | General discussion |
| 12:40-14.00 | Seated lunch: ECB Dining Area (2nd floor, Eurotower) |
| 14:00-15:50 | Session 3: Trends and Practices in Sovereign Debt Management Chair: Philippe Mills (Agence France Trésor and Chairman of EFC Sub - Committee on EU Sovereign Debt Markets) |
| 14:00-14:20 | "Sovereign debt management in the EU: recent trends and practices"
download Maria Grazia Attinasi (ECB), Cristina Checherita-Westphal (ECB), Marta Rodriguez-Vives (ECB), Michal Slavik (ECB) |
| 14:20-14:40 | "Practical considerations about public debt structure choices"
download Jo Whelan (United Kingdom Debt Management Office) |
| 14:40-15.00 | "Use of derivatives in public debt management: the New Zealand experience" Greg Horman (IMF) |
| 15:00-15:20 | Coffee break |
| 15.20-15.40 | Discussant: Gerassimos Thomas (European Commission) |
| 15.40-15.50 | General discussion |
| 15.50-16.50 | Panel discussion: Outlook for sovereign debt management Chair: Diego Rodriguez-Palenzuela (ECB) Panel members: Alessandro Missale (University of Milan), Hans J. Blommestein (OECD), Philippe Mills (Agence France Trésor and Chairman of EFC Sub-Committee on EU Sovereign Debt Markets) |
| 16:50-17:00 | Closing remarks download Ad van Riet (ECB) |
