Global Economic Governance after the Great Recession

Aspen Institute Romania organized a Policy Roundtable on the theme ‘Global Economic Governance After the Great Recession - a U.S - EU View'. The discussion took place on Monday, June 27, 2011. The key note speakers were Dr. Robert F. Wescott, President of Keybridge Research LLC, a highly esteemed scholar with professional experience regarding macroeconomic, financial, and public policy issues; and Prof. Daniel Dăianu, professor of Economist, SNSPA. The event was moderated by Mr. Valentin Lazea, Chief Economist at the National Bank of Romania and will take place at the Athenee Palace Hilton Hotel in Bucharest. More details in the attached Report.
Dr. Wescott, a former Chief Economist in the President's Council of Economic Advisers at the White House, was also a Deputy Division Chief in the Research Department at the IMF, responsible for producing the outlook for the Eastern European Countries in transition. He will broaden the debate on governance reform, addressing the changes that will have to be imposed at an international level, in order to build a sound way out of the Great Recession. Emphasis will be given to the lessons learnt from the excesses of the Great Moderation years and their implications for the economy's new normal state of affairs.

Prof. Daniel Daianu is a Member of the Aspen Institute Romania and Professor of economics at the School of Political and Administrative Studies in Bucharest, and until recently Member of the European Parliament. He is author of many writings like "What will Romania be in the EU" (2006), "South East Europe and The World We Live In" (2008) or ‘The Macroeconomics of EU Integration: The Case of Romania" (2008). More recently he is co-author of the EP report on the reform of the regulation and supervision of financial markets; author of "Which Way Goes Capitalism?". Mr. Dăianu is a fellow of the William Davidson Institute, University of Michigan; Chairman of The Romanian Economic Society; member of the Advisory Board of the European Association for Comparative Economic Studies (EACES); associate member of the Romanian Academy; fellowships at Harvard University, The Wilson Center (Washington DC), IMF (Washington DC), NATO Defense College (Rome) etc; visiting professorships at Berkeley, UCLA, Bologna University, etc. President of Junior Achievement, Romania and President of Harvard Club, Romania; Honorary President of the Romanian Association of European Studies; member of the advisory board of several foreign journals. He was Finance Minister of Romania (1997-1998), Chief Economist of the National Bank of Romania (1992-1997), Deputy Minister of Finance (1992) and Chairman of the OSCE Economic Forum (2001).

Mr. Valentin Lazea is Chief Economist of the National Bank of Romania. He studied at Sussex University in Brighton and at the IMF Institute in Washington. Starting with 2004 he has been the President of the Board of TransFond S.A., a company that technically operates the electronic payment system. He also served as State Secretary at the Ministry of Finance in 1997-1998 and between August and December 2000. He has been Chief Economist at the National Bank of Romania (BNR) since 1999.
This event is the latest contribution by the Aspen Institute Romania to the critical topic of economic governance. This has been the backbone of AIR public and policy oriented economic work in the past year. Highpoints include the 2010 Aspen Annual Economic Conference, offering an "East to West perspective on the way ahead on Economic Governance in Europe", a conference on competitiveness agendas for Europe, followed by the establishment of a task force coordinated by professor Daniel Daianu focused particularly on the Romanian perspective on European economic governance.

The debate took place according to the Aspen method, with closed doors. The guests were representatives of national and international financial institutions present in Romania, of corporations and large companies and businessmen associations, but also representatives of the Competition Council and of the Romanian National Bank.

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