The Conference


While the financial crisis in the United States, that has been known as the subprime crisis was coming to an end, the shrapnel of that crisis remained in many banking institutions in Europe, and the fragility they induced in the banking systems deflagrated with the European sovereign crisis triggered by the Greek case.

Unlike many sovereign crises before, the European sovereign crisis is an excursion in unchartered territory that has raised issues and puzzles that no risk manager has faced before. Unlike the 1929 crisis, the 'monstruous siamese brotherhood' characterizing this crisis has take the form of a perverse link between public finance and the banking systems. Moreover, the specificity of the European economic landscape added even more complexity to the crisis. On top of this, the incomplete state of the European union process brought into the picture scenarios that had never been seen before, such as redenomination risk or the default risk of national central banks.

The purpose of the international conference that opens the academic year 2017-2018 is to provide a general review of the issues raised by rhe European crisis and to develop the discussion on some of these topics