Overview of the examined issues | 5th ECB Stimulation Conference

At the end of the 4-day process of the 5th ECB Simulation Conference for students on 13/12, a series of announcements is completed for the speakers who honored us with their presence at the training day and contributed to this constructive experience for students.

Following the series of speeches, we would like to thank warmly:

  • Mr. Christos Gortsos, Professor of Public Financial Law at the National Kapodistrian University of Athens and President of the Academic Council of the European Banking Institute (EIB)
  • Mr. Konstantinos Drakos, Vice Rector of the Athens University of Economics and Business

Mr. Gortsos, in his presentation, made an overview of the issues that occupied this year’s conference. Specifically, he referred to the policy of the ECB, which is under review, as suggested by the recent strategy report he published. The professor pointed out that this revision is largely due to the crisis of the SARS-CoV-2 Pandemic and the measures that the ECB had to take, to support the European economy. However, the subject of his speech was the digital currency, which is part of the new policy strategy of the ECB as its immediate goal, with particular emphasis on the legal basis for its establishment. At the same time, he referred to the means of exercising monetary policy by the ECB and its fundamental goal, which is to maintain price stability, as enshrined in the Treaty on the Functioning of the EU (TFEU) and in particular article 127. 

In his speech, Mr. Drakos focused on the issue of digital currencies and, in particular, on their opportunities and challenges. In particular, he highlighted the role of cryptocurrencies as an alternative currency, and then focused on the digital euro, as an aspect of the digitization of the European economy. He, also, did not omit to mention the benefits of using a digital euro, as well as the features required to have such a form of exchange. Finally, he warned of the possible dangers posed by the introduction of such digital currencies and stressed the need for careful and systematic planning, weighing the risks that may arise from their use.

You can see the training day program in English here.

With joy and appreciation,

On behalf of Get Involved

Vasilis Angelopoulos

Anthony Efstathiadis

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