In 2020, the Get Involved team has decided to publish the findings of each ECB Simulation Conference. During the Conference, some of the most noteworthy issues and developments of the Eurozone are discussed. The participants in order to better prepare for the procedures of the Conference study various materials, the main being the Conference’s Study Guide. Taking all these into consideration, the promotion of the participants’ perspectives and ideas was regarded as important.
Get Discussions III is a report that communicates the key takeaways of the 7th ECB Simulation Conference for university students. The conference took place from December 15th to 18th, 2023, at the amphitheatre of Karatzas Megaron of the National Bank of Greece (Training Day – December 15th) and in the Troias Building of the Athens University of Economics and Business (December 16th-18th).
The topics that were discussed during the 7th ECB Simulation Conference included:
The Conference was attended by 151 university students and graduates, mainly with backgrounds in economics (34,44%), law (32,45%) and international studies (17,22%). Conference findings are based on participants' ideas and proposals on the examined topics.
Get Discussions II features the findings of the 6th ECB Simulation Conference for university students that took place between December 9 to 12, 2022 in Athens. The findings are the result of the delegates’ discussions and proposals on the examined agenda. Following the inclusion of the 2020 findings in the official ECB Listens programme, Get Involved continues to publish the results of the delegates’ dialogue.
Publishing the results of the dialogue each year gives stakeholders the opportunity to review the discussions that occurred during the Conference, but also allows the Conference to communicate the views and concerns of participants to external stakeholders. In these debates, participants are in the age group of 18-30 -moreover, 59% of the participants are women- testifying to the broad inclusion and diversity of young people in contemporary economic issues through the ECB Simulation Conference. On the contrary, in the first broad dialogue attempted by the ECB in 2020, the sample was over-represented by men and older age groups, as 76% of respondents were male and 40% were over 55 years old. The above data are a point of added value for us at Get Involved, as young people are becoming a part of the dialogue on contemporary economic issues of the Euro Area.
The findings of the 6th ECB Simulation Conference for university students include the conclusions of the dialogue on the issues:
From the participants’ perspectives, the topic of ESG and transformation challenges for the financial system was mentioned, which was not included in the original agenda of the organizing committee but was agreed upon unanimously in the conference proceedings.
Get Discussions features the findings of the 5th ECB Simulation Conference. The 5th ECB Simulation Conference took place between December 10 to 13, 2021 and the examined topics that the participants discussed were approved by the Bank of Greece. More specifically, the participants -firstly as Central Bankers and then as individuals- had to answer the following questions:
1.a. Do you agree with the active engagement with ESG (Environmental, Social, and Governance) issues by the European Central Bank? Which of these issues should be prioritized?
1.b. Would the financial institutions benefit from the development of a public database in which the significant banking institutions will disclose their data related to ESG, in a standardized format, following a similar approach to the financial information disclosures?
2. Will the development of a Central Bank Digital Currency (Digital Euro) impact your consumption behavior and, if yes, how?
3.a. Do you consider that the European Central Bank acted swiftly in implementing programs and policies for tackling the adverse economic developments of the SARS-Cov-2 pandemic? Do you rate these policies as efficient?
3.b. Do you consider the rise in inflation that was recorded during 2021, a short or long-term phenomenon? How much did the Fiscal and Monetary Policies affect this rise?
4. Since the outbreak of the Global Financial Crisis, for a second time, the level of the Non- Performing Loans has increased significantly. The reasons for this rise are different from the first wave, as it is mainly driven by external factors to the financial system. Do you think that the policies that were developed for the first wave of Non-Performing Loans will be able to tackle the new wave?
The findings of the “Get Discussions: 5th ECB Simulation Conference” features the perspectives, ideas, and knowledge of the Conference participants. Moreover, the extent to which the perspectives and understanding of the participants on the working of the ECB were altered, was assessed. These views were shaped after their participation in the Preparation Period (preparation calls, study of the Study Guide etc.), the Training Day, and the main procedures of the Conference.
On the 24th of February 2020, the European Central Bank launched the digital portal «ECB Listens» in the context of reviewing its policy urging the public to express its views on different issues. In the 4th ECB Simulation Conference, after the proposal of the Bank of Greece, the participants were asked to answer specific questions regarding four main questions:
The findings of the “ECB Listens: 4th Simulation Conference” features the perspectives, ideas, and knowledge of the Conference participants. Moreover, the extent to which the perspectives and understanding of the participants on the working of the ECB were altered, was assessed. These views were formed after their participation in the Preparation Period (preparation calls, study of the Study Guide etc.), the Training Day, and the main procedures of the Conference.