A Seminar with Prof. Sironi

The Economic and Regulatory Scenario: Challenges for Europe and European Financial Institutions

We are thankful to Prof. Andrea Sironi, Chairman of Generali, for his engaging seminar "The Economic and Regulatory Scenario: Challenges for Europe and European Financial Institutions" today delivered to our participants and MIB Trieste Alumni Association.

What has happened in the last 15 years, since the beginning of the great financial crisis? What actions have the banking system undertaken to strengthen its financial solidity?

After an overview of the main macroeconomic causes of the crisis, Prof. Sironi focused on the regulatory context of the insurance sector, the changes to Solvency II regulation, and its consequences on investments in the real market.

Some inspiring points raised:
- the importance of a European Banking Union to reduce the cost of funding for EU banks and loans for SMEs
- the aim to reach a European Insurance Union, too, to favour competition and reduce the cost of Insurance services for EU households and SMEs
- the need for a European Capital Markets Union to reduce fragmentation, make funding costs less heterogeneous among EU countries, and facilitate SMEs' access to equity and bonds markets.
 
In the final part of the seminar, Prof. Sironi presented six challenges to face for European Financial Institutions: Governments Debt, Energy, Inflation, Economic growth, Sustainability, and Digital transition.