The euro crisis fundamentally changed the mandate of the European Central Bank (ECB). Like other central banks in advanced economies, the ECB introduced unconventional monetary policy instruments and took over responsibilities over banking supervision in the euro area. More controversially, the ECB became involved in negotiations of financial assistance programmes for countries facing sovereign debt problems. These developments were paralleled by the creation of new accountability mechanisms and the development of existing ones. However, the extent to which the ECB’s current accountability framework matches the expansion of its powers remains debatable.
Join us for a presentation on the evolution of the ECB’s accountability practices during the crisis by Jean-François Jamet, Principal Economist at the European Central Bank, followed by a panel discussion on the achievements and challenges of ECB accountability after the crisis with representatives of think tanks and advocacy groups.
Jean-François Jamet is Principal Economist at the European Central Bank, where he is in charge of parliamentary affairs. Prior to joining the ECB, Jean-Francois worked for the World Bank and the European Commission. He studied economics at the Ecole Normale Supérieure (Paris School of Economics) and Harvard University, and political science at Sciences Po. He is the author of several books and articles on European integration and the Economic and Monetary Union.
Leo Hoffmann-Axthelm joined Transparency International EU in 2015 to coordinate a project on the transparency and democratic accountability of EU economic governance institutions. Prior to joining TI, Leo worked at the European Commission's Joint Research Centre and in the Director-General's team at DG Economic and Financial Affairs (ECFIN).
Maja Kluger Dionigi is Senior Researcher at Think Tank EUROPA. Her work focuses on political accountability in post-crisis EU economic governance, lobbying in the EU, and transparency in EU decision-making. She obtained her PhD from the London School of Economics and Political Science (LSE) in 2013 and worked as a fellow at the LSE before joining Think Tank Europa.
Stanislas Jourdan is head of Positive Money Europe, a non-profit organisation based in Brussels dedicated to scrutinizing the European Central Bank and advocating for making the Eurozone monetary policy promote a fair, democratic and sustainable economy. At Positive Money, Stanislas Jourdan coordinated the campaign "Quantitative Easing for People" together with a coalition of 21 civil society organisations.
Lucas Guttenberg is Deputy Director of the Jacques Delors Institute Berlin and leads Institute’s the policy work on European economic policy.