FESSUD Newsletter July 2016

Welcome to the FESSUD newsletter.

The final annual events of FESSUD will be held on 27th and 28th September in Brussels. This provides us with the opportunities to draw on the wide range of work which has been undertaken on financialisation and its consequences.

On Tuesday 27th, sessions will range over variegated financialisation, causes and consequences of the financial crisis and the implications for a more resilient financial and economic system, financialisation, environment and sustainability, de-financialising social well-being, finance and development and macroeconomic lessons. These sessions will focus on the research findings of the FESSUD project.

The event on Wednesday 28th will focus on the policies and policy implications coming from the work of FESSUD. The sessions will range over the roles of regulation in avoiding financial crises, the macroeconomic policies of EMU, policy recommendations on environmental sustainability and for finance and development, alternative forms of finance to better serve social well-being and the future of finance. It will conclude with a roundtable on ‘how can finance better serving economy and society?’. Further information will be shortly available.

The workshop on the ‘Future of finance’, held at the Bank of England on Wednesday 25th May, provided an opportunity for FESSUD partners to present and discuss some of the findings of Work Package 11 on Foresight notably. Those findings are available as FESSUD working papers. We were delighted to engage with policy makers from the ECB, European Commission and European Investment Bank.

Malcolm Sawyer, Project Coordinator



WP8 - Finance, real economy and the State

WP8 has investigated and evaluated the impacts of the structure and evolution of financial systems on the structure, ownership and performance of the real economy, and of the relationships between financialisation and the role of the State. At this final stage of the project, some general conclusions can be drawn.

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WP9 - Financial stability and macroeconomic policies

The general focus of WP9 has been the theoretical and empirical investigation of the relationships between financial stability and macroeconomic policies. WP9 has also dealt with macroeconomic imbalances within the Eurozone and questioned the rationale of the European mercantilist agenda…

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"Mapping the Future of Finance", a FESSUD workshop at the Bank of England

The FESSUD project held a policy-oriented workshop at the Bank of England on 25 May 2016. It focused on the Future of Finance: growth perspectives, needs for reforming, size and (in)stability of the financial system…

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Restoring Convergence and Cohesion in the European Monetary Union through a Common Unemployment Insurance

Interview with László Andor, Former EU Commissioner for Employment, Social Affairs and Inclusion, by Malcolm Sawyer


The Guardian – ‘Financial watchdogs need more bite to bring shadow banking to heel’

British newspaper The Guardian issued an article on the necessity for policy makers to take action “to limit damage from a financial crash” with reference to FESSUD. A few days after the workshop at the Bank of England, this article looks back to FESSUD’s expected evolution of some relevant features of the financialisation process in the near future.
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Independent – ‘Why bankers are driving us into the arms of another financial crisis’

 “Economists have been warning for some time that the UK and Continental Europe is heading for another financial crisis and the [Delphi] survey adds another voice to that chorus”.
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FESSUD Final Conference

SAVE THE DATE – 27 and 28 September 2016, Brussels. The FESSUD project will close 5 years of research about financialisation of our economy. It will present its main findings and policy recommendations for a financial system better serving the economy, society and the environment.
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This project has received funding from the European Union's 7th Framework Programme for research, technological development and demonstration under grant agreement no 266800

The views expressed during the execution of the FESSUD project, in whatever form and or by whatever medium, are the sole responsibility of the authors. The European Union is not liable for any use that may be made of the information contained therein.