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Patrick Bond lectures on global finance in Brussels, 13-15 November

Global Economic Volatility and Slap-Dash Repairs to the International Financial Architecture

The International Financial System and the Global Power Shift
Five Years after Lehman Brothers

A balance of financial reforms and their
impact on economy, society, geo-politics
and the further perspectives

Brussels, 13-15 November 2013


Rosa Luxemburg Stiftung, Germany (Brussels Office) in cooperation with
Attac France, Finance Watch (Brussels), WEED (Berlin)

The rise of emerging markets in the Global South and especially of China has raised fundamental questions about the future of the economic and political world system. It was in this changing geo-political context, that the crash of Lehman Brothers occurred, triggered the worst economic crisis since World War II. Today, there are increasing doubts, whether the “old West” will be able to preserve its dominance over the world system in the future. Given the importance of the finance sector in times of a “financialised capitalism” there is an urgent need to understand the linkages between finance, its crisis and the shifts in the global power structures.

In spite of great expectations after the crash, financial reforms both in Europe and the US have not gone very far. Moreover, in the Euro-zone the financial crisis has triggered a sovereign debt crisis, which, however, has deep going, structural roots independently from the financial crisis, such as the heterogeneity of the EU in general, the misconstruction of the currency union and the economic imbalances between its member states. As a result, Southern Europe is in a dramatic situation at tremendous human costs. The future of the EU is uncertain. An end to the crisis is not in sight.
The world is heading towards a multi-polar system, and it seems that the financial crisis and the Euro-crisis serve as a catalyst in this process.

The conference will look at the financial reform process, the crisis management and the further perspectives and their geo-political dimensions.

Draft programme

Public Event, Evening 13th Nov

17:00 registration for the conference

18:00 public debate: A better financial system in the making?
Will the changes in the balance of power between the West and the Global South lead to a more just international financial system?
With: Patrick Bond, Jayati Ghosh, & Pedro Páez

20:00 Dinner

First day, 14th of November

09:00 Opening, welcome: Klaus Sühl, head of office RLS Brussels

09:15 Keynote speech: Jayati Ghosh, Jawaharlal Nehru University, New Delhi

10:00 Financial crisis as a catalyst towards a multi-polar world system – What happens to dollar hegemony?
  • Patrick Bond, University of KwaZulu-Natal, South Africa

  • Claude Serfati, Institute of Economic and Social Studies (IRES); University Versailles-Saint-Quentin-en-Yvelines, France

  • 11:00 Discussion

    11:30 Coffee

    2. Panel

    11:45 Five Years After: Reforms and reform proposals in the USA – First-come first-serve, the urge for regulatory competition?
  • Robert Guttmann, Hofstra University, New York
    Comment: Lisa Donner, Americans for Financial Reform, Washington

    12:45 Discussion

    13:15 Lunch break

    3. Panel

    14:15 Five Years After: The EU and financial reform - Much ado about nothing?
  • Dominique Plihon, University Paris VIII

  • Comments: Daniela Gabor, University of West England & Thierry Philipponnat, Secretary General of Finance Watch

    15:15 Discussion

    15:45 Coffee

    4. Panel discussion

    16:00 The Euro, the crisis and the perspectives of a new global monetary system
  • Nildo Ouriques Federal University of Santa Catarina, Florianópolis, Brazil

  • David Santoni, National University of La Plata, Argentina

  • Cédric Durand, University Paris XIII
    Andreas Botsch, ETUI, Head of the Economics Department, Brussels (tbc)

  • 17:00 Discussion

    17:30 End of First Day

    20:00 Conference Dinner in the City Centre

    Second day, 15th of November

    5. Panel

    09:00 Financial tools and institutions as means for the global competition:
    tax havens & free trade agreements, TTIP
  • Pia Eberhardt, CEO, Brussels

  • Sol Picciotto, Tax Justice Network, London

  • 10:00 Discussion

    10:30 Coffee Break

    6. Panel

    11:00 Financial tools and institutions as means for the global competition: Capital Controls & Development Banks (Banco del Sur and BRICS development bank)
  • Pedro Páez, Ex-Finance Minister and member of Stiglitz Commission

  • Erik S. Reinert, The Other Canon Foundation, Norway, Tallinn University of Technology, Estonia

  • 12:00 Discussion

    12:30 Lunch break

    7. Panel

    13:30 A New Currency Order against Dollar Hegemony as a necessary step towards a fair international financial order?
  • C.P. Chandrasekhar, Jawaharlal Nehru University, New Delhi

  • Comment:Sargon Nissan, Bretton Woods Project, London (SDR)

    14:30 Discussion

    15:00 Coffee break

    15:30 Emancipatory Strategies out of the crises for a more balanced global financial order
  • Gus Massiah, Paris, International Council World Social Forum

  • Comment: James Meadway, Counterfire and New Economic Foundation, UK

    16:30 Discussion
    17:00 Closing of the Conference & Farewell

    Simultaneous translation in English and French. The results of the conference will be published in a report

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