For those in the DC area, be sure to join the Washington Foreign Law Society (WFLS) for a luncheon discussion featuring Ambassador Wendelin Ettmayer, Austrian Ambassador to the United States, entitled “International Crisis — International or National Solutions?”
In his remarks, Ambassador Ettmayer will touch on the financial crisis as an example for an international challenge, looking at national and international solutions for the problem. Austria, for example, acted quickly and passed two specific laws at the beginning of the financial crisis: The goals are to strengthen the inter-bank-market in order to increase liquidity and to secure the stability of the financial market.
Within the European Union, the de Larosière Report laid out a framework for steps taken by the EU in February 2009. These recommendations have been used by the European Commission and were adopted in September 2009. A new regulatory agenda will be introduced in order to reduce risks and improve risk management. Ambassador Ettmayer argues that stronger coordinated supervision for all financial actors within the EU (but also on an international level) is vital, and effective crisis management procedures should be in place in order to build confidence among supervisors and restore financial stability throughout Europe.
Time: 12 noon to 2 p.m.
Place: The City Club of Washington (Columbia Square Location)
555 13th Street, NW
Washington, DC 2000
This is a plated luncheon. To ensure sufficient space, please register no later than Friday, May 14, 2010.
Tickets are available at http://www.eventbrite.com/event/668115351
I hope some of you can make it.