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August 29, 2011 How to Resolve Systemic Risks

The problems that caused the recent financial crisis have still not been resolved. Recent distortions in financial markets have shown that the crisis is not over yet. According to Daniel Fricke, researcher in the Kiel Institut Financial Markets and Macroeconomic Activity Research Area and organizer of the Global Economic Symposium (GES) 2011 panel session Coping with Systemic Risk, “The systemic risks still exist. We urgently need regulatory measures, especially in the interbank market, that will make the system more stable.” Further, according to Fricke, countries will have to coordinate with one another to resolve the systemic risks.

The recent financial crisis demonstrated how systemic risks in the financial sector can cause a global recession. Many of the risks have been discussed and analyzed, but not enough has been done to resolve these risks. Merely changing the capital reserve requirements for banks will not suffice to stabilize financial markets and prevent future crises.

What data must one have to monitor the financial system efficiently? What regulatory measures are needed? Is there a danger of overregulating the system? And how would the financial sector react to changes in the system? These and other questions will be discussed at the Global Economic Symposium in Kiel.

Kiel will turn into a think tank on 4–6 October, when more than 400 high-ranking experts from business, government, academia, and civil societies will meet for the fourth Global Economic Symposium (GES), which is being jointly hosted by the Kiel institute for the World Economy and the Bertelsmann Stiftung, in cooperation with the German National Library of Economics (ZBW) – Leibniz Information Centre for Economics. Among those expected to participate are Hans-Paul Bürkner, President and CEO of the Boston Consulting Group, René Obermann, CEO of Deutsche Telekom, Yves Leterme, Prime Minister of Belgium, and Erik Stark Maskin and Oliver E. Williamson, both Nobel laureates in economics.

To register to attend, please submit the accreditation application form by September 19. It may not be possible to accept late registrations for security reasons. Applications made on the days of the event will not be accepted. Our media agency will gladly help you arrange interviews. Please mention on your accreditation application form whom you would like to interview.

Please note that the conference will be held in English.

In case of questions regarding the accreditation, please contact the Kiel Institute’s media agency:

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