Europe’s financial system structures transformed by EU policies, Brexit, and COVID-19


August 5, 2020, 9:00 AM to 10:00 AM EDT
PIIE Virtual Event

Nicolas Véron (PIIE), Thomas Wieser (High Level Forum on the Capital Markets Union) and Simeon Djankov (PIIE)

Event Summary

The European financial system is widely viewed as inefficient, fragmented, and overly bank-centric. Its structures are affected by developments that include the recent exit from a decade of turmoil in the euro area, EU policy initiatives such as unfinished banking union and barely started capital markets union, technological disruptions, the yearning for a role of finance in the transition to a greener growth model, Brexit, and the COVID-19 shock and its aftermath. This session will provide an opportunity to take stock.

Joining this episode of Financial Statements were:


Nicolas Véron, Senior Fellow, Peterson Institute for International Economics (PIIE)


Thomas Wieser, chairman of the EU high-level forum that produced the report "A New Vision for Europe's Capital Markets" (June 2020)

Simeon Djankov, PIIE Senior Fellow and director of the Financial Markets Group at the London School of Economics and Political Science



About This Series

Financial Statements is a biweekly virtual event series hosted by Nicolas Véron that explores changes in the world of finance, encompassing themes of financial services regulation, corporate finance and governance, systemic fragility and crises, and structural changes driving business and policy trends in the financial sector.