Breakfast briefing on “the European debt crisis explained and the road forward”
Host / Sponsor: Financial Services Business Council (FSBC) of the European Chamber of Commerce / EU Office to HK and Macau
Event Time: Fri 07-Dec-2012 8:00 AM
Venue: Club Lusitano, 24th Floor, 16 Ice House Street, Central, Hong Kong

The Financial Services Business Council of the European Chamber of Commerce in Hong Kong with the support of the Office of the European Union to Hong Kong and Macao, was delighted to host a Breakfast briefing on “the European debt crisis explained and the road forward” on 7th December 2012, with Peter Bekx, Director of International Economic and Financial Relations and Global Governance in the European Commission’s Directorate General for Economic and Financial Affairs.

The audiences consisted of Consul Generals of EU member states, managing directors of financial institutions/banks operating in Hong Kong, the EU Office and senior executives from Hong Kong’s business community.

The breakfast briefing was inaugurated with welcoming remarks by Beth Smits, Deputy-Chairperson of the Financial Services Business Council (FSBC) of the European Chamber of Commerce in Hong Kong, who introduced and warmly welcomed the guest speaker and thanked the audience for attending the event. Beth Smits also gave a background to the role of the FSBC and how it can be beneficial to co-operate with financial industry of Hong Kong and Macao.

In the breakfast briefing Peter Bekx, gave an overview into the current economic situation with in the EU, the forecast for the financial markets and GDP growth. Peter Bekx also explained the background to EU sovereign debt crisis and the creation of a vicious circle between financial stability, economic growth and sovereign debt. On the positive side, Peter Bekx informed the audience about the Overarching: Completing EMU Architecture, which are policy measures implemented to deal with the crisis and to break the vicious circle.

Please click to download presentationicon Peter Bekx Presentation (364.9 kB)

After the interesting presentation given by Peter Bekx, a lively questions and answers session, moderated by Stefan Amarasinha, Head of Trade & Economic Section, EU Office to Hong Kong and Macau, was held between the audience and a panel that included:

  • Peter Bekx, Director of International Economic and Financial Relations and Global Governance in the European Commission’s Directorate General for Economic and Financial Affairs
  • Moreno Bertoldi, Head of the unit responsible for Coordination of country-specific policy surveillance at the Directorate General for Economic and Financial Affairs of the European Commission
  • Annika Melander, Head of Economic and Financial Section at the EU Delegation to China

The event was finally closed by Stefan Amarasinha, who warmly thanked Peter Bekx and the panellist for sharing their views with the audience. Stefan Amarasinha highlighted the growing importance role of the Financial Services Business Council and raising a common European voice in the Hong Kong financial industry.

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