21.04.2015 - 00:00:00
Exchange on Financial Stability – Werner Pascha in Tokyo Policy Roundtable with Experts from Japan and Europe
Financial crises can have distinctive regional characteristics as seen during the Asian financial crisis of 1997/98 and the crisis of the Euro area starting from 2010. | Regional financial arrangements could therefore be considered as a helpful complement to global mechanisms, particularly to the IMF. | The European Stability Mechanism is a particularly topical issue, given the recent turmoil about Greece, and in Pacific Asia the Chiang-Mai Initiative Multilateralization deserves particular attention.
Together with Prof. Frank Roevekamp of the Ludwigshafen University of Applied Sciences, Prof. Werner Pascha was a keynote presenter of a DIJ Roundtable in Tokyo, organized by the German Institute of Japanese Studies (Deutsches Institut für Japanstudien) on February 19, 2015.
The roundtable brought together 24 experts on financial systems and financial policy from Japan and Europe to discuss the role of regional financial stability mechanisms with special focus to the European Stability Mechanism and the Chiang Mai Initiative. It encompassed a keynote speech by Professors Pascha and Roevekamp, statements made by the two commentators, Professor Yoshino, Dean of the Asian Development Bank Institute, and Dr. Meyerhöfer of the German Embassy in Tokyo, and a discussion among all participants. For more information, http://www.dijtokyo.org/events/institutionalizing_regional_financial_stability_mechanisms.