Since 2020, the Get Involved team has decided to publish its findings which stem from the proceedings of the European Central Bank Simulation Conferences. During the conference, major economic issues concerning the Euro area are discussed. The participants study helpful documents, the study guide of each conference being a key resource, in order to fully prepare. Taking all that into account, it was considered vital that the opinions and suggestions put forward by the participants, be showcased and promoted.
“Get Discussions: 5th ECB Simulation Conference” includes the participants’ findings of the 5th ECB Simulation Conference. The 5th ECB Simulation Conference took place from 10 to 13 December 2021 and the topics that participants were invited to discuss were approved by the Bank of Greece. Specifically, participants were invited to answer the following questions, first as representatives of central banks and then to express their own views and ideas:
• 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?
• 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 as the financial information disclosures?
• Will the development of a Central Bank Digital Currency (Digital Euro) impact your consumption behavior and if yes how?
• 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?
• Do you consider the rise in inflation that is recorded during 2021, a short or long-term phenomenon? How much did the Fiscal and Monetary Policies affect this rise?
• 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 of 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 “Get Discussions: 5th ECB Simulation Conference” findings contain the views, ideas, and insights of its participants. During this process, it was assessed whether and to what extent participants’ views and understanding of the ECB’s functions had changed. The participants’ views were formed by their participation in the pre-conference process (preparation calls, study of the Conference study guides), during the main conference proceedings, and during the Training Day.
On 24 February 2020, the European Central Bank inaugurated the online portal “ECB Listens” as part of its strategy review, allowing the general public to express its opinions on a range of issues. In the context of the 4th ECB Simulation Conference, at the suggestion of the Bank of Greece, participants were invited to answer specific questions regarding:
• What does “price stability” mean for you?
• What are your economic expectations and concerns?
• What other topics matter to you?
• How can we best communicate with you?
The “ECB Listens: 4th ECB Simulation Conference” findings contain the views, ideas and insights of its participants. During this process, it was assessed whether and to what extent participants’ views and understanding of the ECB’s functions had changed. The participants’ views were formed by their participation in the pre-conference process (preparation calls, study of the Conference study guides), during the main Conference proceedings, and during the Training Day.