Why is the public interest such a low priority in banking?
The public interest is not being properly represented in banking and finance: eight years after Lehman Brothers collapsed, the EU’s economy is weak and the banking system remains a threat to financial stability. In response, Finance Watch began a research project in 2015 to investigate why the public interest has been so under-represented in banking and to identify possible improvements. The two-year project invited civil society and academics to participate and contribute to the research.
The conference will present the results of this research – including policy recommendations – while providing an opportunity for its contributors and others to continue the conversation and to strengthen the network of civil society organisations and academics working on the subject.
This one-day event combines plenary sessions with 8 parallel sessions, allowing the participants to explore the multiple dimensions and possible answers to the questions raised.
Download the report (PDF, English)
9AM | Opening
9:20AM | Introduction on the project and the conference
10AM | Panel discussion on how a simplified, more open and inclusive regulatory process can improve participation and deliver better outcomes in terms of public interest representation?
– Eric Ducoulombier, European Commission, DG FISMA
– Monique Goyens, BEUC
– Daniel Mügge, University of Amsterdam
– Ella Sjödin, Nordic Financial Unions
– Magda Tancau, EAPN and FESSUD
– Myriam Vander Stichele, SOMO
11:30AM | Interview on stakeholder banking:
What are the criteria and recipe for success? How to influence banks actions and foster the participation of the public?
– Christine Berry, New Economics Foundation
– Rym Ayadi, International Research Centre on Cooperative Finance
12AM | Keynote speech by John Christensen, Founder and President of the Tax Justice Network:
Building up a movement and influencing policies on a complex and technical issue: learning from the international tax campaigns
2PM | 1st series of parallel sessions: short presentations followed by discussions with participants
> Participation in banking regulation: CSO strategies
S. Pagliari, City University; F. Lemaire, University Paris XIII
> Banks facing societal issues: Investing in the transition
D. Korslund, GABV; S. Hierzig, Share Action
> The future of bailed-out banks: a citizens’ perspective
F. Travers-Smith, Move your Money; L. Deruytter, Fairfin
> Citizens’ Dashboard of Finance
G. Porino, Finance Watch; W. Kalinowski, Veblen Institute
3PM | 2nd series of parallel sessions: short presentations followed by discussions with participants
> Almost all of us are banking clients: consumers’ interest representations
A. Fily, BEUC; L. Kastner, Sciences Po Paris
> Learning from German stakeholder bank
C. Scherrer, Kassel University; L. Regneri, Ver.di
> Communication, pedagogy: how to talk about money and finance
M. Nicholls, Meteos
> Building coalitions on finance and tax: lessons from the FTT campaigns and an overview
P. Wahl, Weed; T. Fazi, ISI Growth
4PM | Stakeholders debate: What to do next? Panel discussion on key actions to be taken to improve the representation of the public interest in banking. Moderation by Rebecca Christie, independent journalist (Bloomberg).
– Sven Giegold, Member of the European Parliament
– Hakan Lucius, Head of Stakeholder Engagement, Transparency and Civil Society Division at the European Investment Bank
– Susanne Wixforth,The German Trade Union Confederation, DGB
– Wim Mijs, European Banking Federation
– Anne Van Schaik, Friends of the Earth Europe
5PM | Closing speech and cocktail reception
Project and Event co-funded by: www.boeckler.de
Event co-funded by: www.eib.org/cso
READ MORE ON THE PROJECT:
- Representation of public interest in banking #0 – Introduction: A contribution to shaping a vision for the future of banking in Europe (16 Dec 2015)
- Representation of public interest in banking #1 – The major contribution of the workshops in the research (17 Dec 2015)
- Representation of public interest in banking #2 – Who is challenging finance? Examining the diversity of voices in the design of financial regulation (19 Feb 2016)
- Representation of public interest in banking #3 – What blocks public participation in banking? (25 April 2016)
- Representation of public interest in banking #4 – The banks, the public and the secluded world of the BCBS: who has access? (26 September 2016)
- Representation of public interest in banking #5 – Shareholder Value in Banking: Legal Fictions and Financial Stability (30 November 2016)