October 20-21, 2000

A conference jointly sponsored by the European Union Centers
at the University of Illinois and the University of Missouri, the International Trade Center at the University of Illinois, and the Center for International Business Education and Research at the University of Illinois.

Adam's Mark Hotel, St. Louis, Missouri

 

Conference Description:

Since the introduction of the euro in 1999, many practical issues have arisen for government officials, businessmen, and bankers on both sides of the Atlantic. This conference aims to examine some of these issues, particularly in light of the unexpected decline in the euro relative to the US dollar.

This session will provide a historical overview of monetary integration from a European perspective and examine the changed role of the capital markets within Europe in response to monetary integration. It will also examine the increased challenges to national policies now that the European Central Bank directs monetary policy.

Paul de Grauwe, Professor of Economics, Katholieke Universiteit Leuven, Belgium, and Senator, Belgian Parliament.
EuroDeGrauwe.pdf

Volker Clausen, Visiting Assistant Professor of Business Economics and Public Policy, Graduate School of Business, Indiana University in Bloomington, Indiana.
EuroClausen.pdf

In this session, the speakers will address the issues the introduction of the euro raises for central banks. In particular, we will examine the changing role of national banks and the European banking and investment community in response to the introduction of the euro.

Aurel Schubert, Vice-President, Austrian National Bank.
EuroSchubert.pdf

Patricia Pollard, Research Economist, Federal Reserve Bank of St. Louis.
EuroPollard.pdf

Practical business people dealing day-to-day with transactions between the two largest economic blocs in the world have to cope with fluctuations in the dollar-euro exchange rate currently as well as anticipated over the next several months to a year. In this session, two foreign exchange practitioners discuss their experiences over the past two years and their anticipations for the coming years.

Craig Larimer, Managing Director, Bank One Capital Markets, Inc., Chicago.
EuroLarimer.pdf

Giorgio Radaelli, Director of European Research, Bank One, NA, London Branch.
EuroRadaelli.pdf

In this session we will discuss the American perspective on dealing with the unexpected decline of the Euro the past year and give advice for coping with unexpected fluctuations in the future. We will also examine international payments systems under development for international transactions.

William Emmons, Research Economist, Federal Reserve Bank of St. Louis.
EuroEmmons.pdf

How do these various perspectives on European monetary policy, banking practice, and exchange rate experience look to Great Britain, not yet a member of the European Monetary Union, but with close economic and financial ties to the Eurosystem? Our keynote speaker is:
C. A. E. Goodhart, Deputy Director, Financial Markets Group and Norman Sosnow Professor of Banking and Finance, London School of Economics.