LORDS

Lords hear evidence from Chief Economists at Deutsche Bank and Unicredit Group

23 November 2010

The House of Lords EU Sub-Committee on Economic and Financial Affairs and International Trade heard evidence from Chief Economists at Deutsche Bank and Unicredit Group, as well as from the Chairman of the Canary Wharf Group as part of its inquiry into the future of economic governance in the EU.

The Committee questioned Dr Thomas Mayer of Deutsche Bank and Dr Marco Annunziata of Unicredit Group about the interaction between fiscal and monetary policy within the EU; including whether the separation of the two can be maintained following the financial crisis, and whether they would support the creation of a European Monetary Fund.

Sir Martin Jacomb, Chairman of the Canary Wharf Group was asked whether coordinated action across the Eurozone could combat competitiveness imbalances in the EU and what measures should be in place within the Eurozone to allow Member States to undertake a process of ‘managed default’ in the face of serious economic crisis.

Image: Istockphoto

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