Highlights of Past Events - 2013
[02/22/13] The EACC’s Economic Update on Europe at the New York Stock Exchange
On February 22, 2013, the EACC hosted a panel discussion about what is happening in the European Economy. Two leading economists shared their insights on the economic challenges within and outside the Eurozone, the progress that has been made so far and how the developments in Europe affect the US Economy and the transatlantic relationship. The program was a fact-based, unbiased and balanced outlook for 2013/14 on the European Economy & beyond. Panelists included Indermit Gill, Chief Economist of the Europe & Central Asia Region, WORLD BANK, as well as Dr. Christian Schulz, Senior Economist, BERENBERG BANK.
[04/12/13] EACCNY Conversation with Jose Manuel Barroso on the New Transatlantic Partnership for Growth & Jobs
April 12, 2013 – EU Commission President Barroso delivered a keynote speech on the “New Transatlantic Partnership for Growth & Jobs” in New York. The topics discussed focused on EU-US partnership to facilitate growth and improve employment opportunities. The event was co-organised by the European American Chamber of Commerce (EACC) New York and by Bloomberg LP.
Below are a few exerpts of what President Barroso had to say:
- “I don’t underestimate the current difficulties (…) we are still many challenges ahead. But we are making progress, in spite of all the difficulties. We have seen the recent developments in Cyprus. And let me tell you, I’m very happy with the results of today’s Eurogroup meeting where the programme for Cyprus was confirmed and approved for all members of the euro area. I was also noting with satisfaction the agreement on the extensions of maturities for Ireland and Portugal, which will help those countries in their so far successful steps to re-enter the markets.”
- “Our partnership has developed into the most prosperous and dynamic economic bond in the world ever, and it still is, accounting for nearly half of global GDP and almost one third of world trade.” “We will work towards new, global standards for business. And we should set the benchmarks of an open, modern trade policy as well.”
- “We are expressly committed to using these negotiations to go beyond bilateral issues, taking advantage of our combined weight to strengthen the multilateral trading system.” “We need to be realistic, so we aim to negotiate a ‘living agreement’ – one that not only removes the main trading obstacles of the past, but that looks just as much towards the future”
- “On both sides, we will not compromise on our high levels of health and safety standards, on consumer and environmental protection. Our citizens and our societies would not allow that to happen.”
- These negotiations will further intensify the economic relationship between the United States and the EU, two economic giants eager to be as successful in the future as they were in the past. But most of all, they will reaffirm the global role and responsibility of both partners, which goes much beyond economics.”
[04/19/13] Finnish Central Banker on the State of the EU Banking Sector
April 19, 2013 — The State of the EU Banking Sector with Erkki Liikanen
The European American Chamber of Commerce New York in co-operation with SIFMA and the Consulate General of Finland in New York hosted Erkki Liikanen, Governor, BANK OF FINLAND and Chairman of the EUROPEAN COMMISSION’S HIGH-LEVEL EXPERT GROUP.
Governor Liikanen is the Chairman of the European Commission’s High-level Expert Group on reforming the structure of the EU banking sector. The group published its formal report in October 2012. Mr. Liikanen joined the EACC New York and its partners for an upfront discussion on the state of the EU banking sector.
In this context:
Commissioner Michel Barnier in November 2011 announced his intention to set up a High-level Expert Group to examine possible reforms to the structure of the EU’s banking sector. In agreement with President Barroso, he appointed Erkki Liikanen as the chairman. Erkki Liikanen is Governor of the Bank of Finland and a former member of the European Commission. The Group’s members were announced on 22 February. The Group presented its final report to the Commission on 2 October 2012.
Its mandate was to determine whether, in addition to ongoing regulatory reforms, structural reforms of EU banks would strengthen financial stability and improve efficiency and consumer protection, and if that is the case to make proposals as appropriate.
Members: List of members
- Report of the High-level Expert Group(3 MB) (corrected version of the report, incorporating technical changes to some of the charts, has been uploaded on 9 October 2012)
Statement and speech of the Chairman
Press release 02.10.2012
[05/21/13] EU Trade Commissioner Karel de Gucht Highlights Global Benefits of Transatlantic Trade & Investment Partnership
May 21, 2013 – EU Trade Commissioner Karel De Gucht in New York City discussed the Transatlantic Trade and Investment Partnership. In his speech to the European American Chamber of Commerce, he stressed that removing transatlantic trade barriers will deliver major benefits to the European Union and the United States, boosting economic growth and stimulating business confidence.
Noting that uncertainty about the economic future has held companies back from investment decisions, he also pointed out that an agreement would send a powerful signal that open markets are essential for growth. “A successful Transatlantic Trade and Investment Partnership would remove one source of that uncertainty – the risk that the world’s leading economies would respond to the crisis with protectionism.”
Commissioner De Gucht highlighted that an agreement would not discriminate against any other trading partners, but rather positively impact on the rest of the world. “At a very simple level, we predict that our trading partners are likely to see direct economic benefits from this deal, probably somewhere in the region of 99 billion euro,” he said. Furthermore, it “will be a way for the EU and the U.S. to lead by example, demonstrating the benefits of stronger rules to implement the principle of open markets, rules that will benefit all countries in the ever-more-integrated global economy.”
[06/03/13] Pan European Days at the New York Stock Exchange
In cooperation with EACCNY, NYSE Euronext hosts its inaugural Pan European Days at the New York Stock Exchange
3 June 2013, This high-profile forum brings together businesses and investors – some 61 companies with up to €762 billion in market capitalisation that are listed on NYSE Euronext’s continental European markets (Amsterdam, Brussels, Lisbon and Paris), and around 250 investors from the United States.
Sponsored by NYSE Euronext in partnership with the European American Chamber of Commerce New York as well as key European investment banks Espirito Santo Investment Bank, ING, and Société Generale, Pan European Days gives leading European companies an opportunity to directly address the investor community in the United States. It also allows investors to interact with CEOs and CFOs of Europe’s leading NYSE Euronext-listed companies, and learn more about opportunities on NYSE Euronext markets.
Pan European Days started with a thematic conference on Europe, bringing together European government officials, chief economists from leading financial institutions and investors.
Session 1: Achieving Growth on European Continent: Challenges & Opportunities.
- Renaat Berckmoes, CFO, TELENET
- Antonio Borges, former Director, IMF EUROPEAN DEPARTMENT, former Vice Chair & Man. Dir., GOLDMAN SACHS
- Jack de Kreij, Vice Chairman & CFO, Royal VOPAK
- Manuel Rodrigues, Secretary of State of Finance PORTUGAL
- Patrick Sayer, CEO, EURAZEO
- Moderator: Chrystia Freeland, Managing Director and Editor, THOMSON REUTERS
Session 2: European Financial Markets: Defying Economic Gravity?
- Carlos Andrade, Chief Economist, BANCO ESPIRITO SANTO
- Mark Cliffe, Chief Economist, ING
- Kit Juckes, Head Strategist, SOCIÉTÉ GÉNÉRALE
- Moderator: Matt Miller, Editor-at-Large, THE DEAL
Dr. Nouriel Roubini, Co-Founder & Chairman, ROUBINI GLOBAL ECONOMICS.
Additionally, in the evening NYSE Euronext hosted a cocktail reception and exclusive dinner for all participants on the Wall Street trading floor.
To mark the occasion, Mr. Rodrigues was joined by European company executives and officials, including EACCNY President James Rosener, in ringing The Opening Bell® the next morning.
For more information: www.pan-european-days.com.
[06/11/13] Newsmaker Breakfast with Deputy Prime Minister of Slovakia Miroslav Lajčák
June 11, 2013 — As part of his visit to New York, Deputy Prime Minister and Minister of Foreign and European Affairs of the Slovak Republic Miroslav Lajčák today attended a breakfast meeting at the European-American Chamber of Commerce (EACC), at which he made a presentation on the topic “From Reform in Slovakia, through European Integration towards a Transatlantic Trade Agreement”.
The event was scheduled to meet with major investors and entrepreneurs who are interested in the development of the economic situation in the European Union and Slovakia. EACC is a renowned organization preparing similar events for members and government ministers from different states of the European Union as well as educational programs on matters affecting business between Europe and the U.S.
The conversation was moderated by James Rosener, the President of EACC New York and Managing Partner of the law firm Pepper Hamilton, and held with the participation with representatives of companies already operating in Slovakia, as well as EACC members including potential investors, and journalists.
Minister M. Lajčák in his speech praised the reforms implemented Slovakia during the twenty years of independence, as well as the achieved integration efforts within NATO, the EU and the euro area. In this context underscores the Slovak government to continue reforms. It also reported on the National Reform Programme, which aims to implement measures to achieve stable economic growth and employment.
Minister M. Lajčák in his presentation informed the participants of the event about economic indicators Slovakia, appropriate investment and business environment in Slovakia, which is mainly the stable political situation, favorable geographical position, high-quality workforce and achievements in different areas of the economy. The Minister gave the example of the automotive industry, where the SR has become a major investment destination. He stressed that the United States is the twelfth largest investor in Slovakia and gave examples of U.S. companies that have already invested and founded his company in Slovakia. Slovakia introduced as the country where it pays to invest in science, research and new technologies.
Minister M. Lajčák expressed support for the upcoming transatlantic free trade agreement between the EU and the USA, which will strengthen interdependence and cooperation on both sides of the Atlantic.
[07/11/13] EACC Hosts Lunchtime Discussion with Members of the EU Parliament
During their New York visit on July 11, 2013, members of the European People’s Party sat down for lunch with EACC NY. A select group of member firm executives discussed U.S. monetary & fiscal policy, responses to the Euro crisis, financial market reform, the FTT, as well as global governance & global monetary imbalances.
The European People’s Party makes up 271 members of the European Parliament, 13 of the European Commissioners, and 13 heads of state for countries in the European Union.
In line with the official party standpoint that “transatlantic relations are a cornerstone of our [EU] external policy and must be strengthened,” this luncheon provided a valuable platform for the exchange of ideas between invited participants and the MEPs present.
[09/20/13] The Y Factor: How Women Grow the New Economy
September 20, 2013 — The European American Chamber of Commerce in cooperation with the Danish Government organized a program about the importance of an active participation of women in the workforce and the positive effects this has on the economy as a whole.
The discussion focused on the economic factors (vis-a-vis questions of human rights or inequality) to make the case that we need to better integrate women if we are serious about economic growth.
- Can an increase in the number of women in the workforce create higher economic growth?
- What is being done in Europe and the U.S., in the private sector and public sectors, to support a more active role of women in the workforce
- What needs to be done to better integrate women in the workforce to increase productivity and generate long-term growth?
- Nick Haekkerup, Danish Minister for Trade and European Affairs
- Laurie Fulton, Former US Ambassador to Denmark
- Kay Hymowitz, Journalist & Fellow at Manhattan Institute
- Eddie Williams, Corporate vice president of Biopharmaceuticals, Novo Nordisk Inc.
- Deborah McWhinney, Chief Operating Officer of Global Enterprise Payments, Citi & Co-chair of Citi Women
- Deborah Butters, Vice President Human Resources, IBM Global Business Services North America
- Moderator: Toni Reinhold, President, Newswomen’s Club of New York, VP, Overseas Press Club, and an editor on the Americas Desk, Reuters
The program was be held at the residence of the Danish Ambassador & Consul General.
[09/23/13] Newsmaker Event with VP Olli Rehn, European Commissioner for Economic & Monetary Affairs and the Euro
Newsmaker Event with VP Olli Rehn, European Commissioner for Economic & Monetary Affairs and the Euro
On September 23, 2013, the EACC New York hosted a joint Newsmaker Breakfast with Reuters News on the Euro Zone’s economic challenges, banking and reforms with EC Vice President Olli Rehn, European Commissioner for Economic & Monetary Affairs and the Euro.
In an interview conducted by Stephen Adler, President and Editor-in-Chief of Reuters News, Vice President Rehn, the European Union’s top economic official, discussed the latest developments and remaining challenges in the EU, including financial reforms, an update on the EU banking union, overall outlook for the euro zone as well as the impact on the global economy.
In his current role, Rehn’s responsibilities include coordinating an exit strategy from the EU’s current economic crisis and putting public finances in all member states back on a sustainable path.
The Newsmaker with Commissioner Rehn arrived on the heels of European President Manuel Barroso’s state of the union speech, and a day after Germany’s critical elections, and the G20 Summit in Russia, and shortly before the G20 Ministerial and the Annual IMF meetings in Washington, where he will represent the European Commission in vital discussions on economic, monetary and financial affairs.
[09/25/13] Enrico Letta, President of the Council of Ministers of the Italian Republic addresses Wall Street Audience
H.E. Enrico Letta, President of the Council of Ministers of the Italian Republic, updates New York business executives on reforms in Italy.
On 25th September, 2013, his Excellency Enrico Letta, President of the Council of Ministers of the Italian Republic visited the New York Stock Exchange (NYSE) and rang The Opening Bell.
During an event organized by the NYSE and the Italian Embassy in cooperation with the European American Chamber of Commerce in New York, Prime Minister Letta met with NYSE Euronext executives and delivered remarks about the status of reforms Italy is implementing to address the country’s economic challenges.
The program attracted over 200 industry and community leaders from the tristate area and was followed by a visit of the NYSE trading floor and an interview with CNBC Anchor Maria Bartiromo. Parts of the interview can be watched here.
Prime Minister Letta is visiting New York to participate in the 68th Session of the United Nations General Assembly and to meet with business leaders to discuss Foreign Direct Investment opportunities in Italy.
A link to Prime Minister’s biography: http://governo.it/Presidente/Biografia/CV_inglese.pdf.