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Home > Regulation Viewpoints > Fragment or Unite—But Decide! The Future of EU Financial Supervision

Regulation Viewpoints

Fragment or Unite—But Decide! The Future of EU Financial Supervision

by Bernhard Speyer and Norbert Walter

Introduction

Since mid-2001, Mr Speyer has been the head of the “Banking, Financial Markets and Regulation” depar tm ent of Deutsche Bank Research, the in-house think-tank of Deutsche Bank Group. In this role, he is responsible for briefing the senior management of Deutsche Bank on regulatory issues as well as on structural issues in the financial industry. In addition, he represents Deutsche Bank on these issues in discussions with clients, authorities, parliaments and the general public.

Mr Speyer had joined Deutsche Bank Research in January 1998 as a Senior Economist responsible for the coverage of issues relating to international monetary and trade policy, structural developments in banking and financial markets as well as regulation and supervision. Current areas of special interest include the structure of financial supervision in the European Union, EU financial market integration, and the governance of the international financial system.

Before joining Deutsche Bank Research, Speyer was a lecturer at the Economics Department of Freie Universität Berlin, where he taught international monetary policy and trade policy from 1993–1997. A trained banker, he studied economics at the University of Leicester, U.K. and the Freie Universität Berlin, where he graduated. Mr Speyer holds a doctorate in economics from the Freie Universität. He is an alumnus of the British-German Forum (2001), the Young Leaders’ Programmes of the American Council on Germany (2005) and of the Chicago Council on Foreign Relations / Dräger Foundation (2000).

Norbert Walter is chief economist of Deutsche Bank. He was previously director at the renowned Kiel Institute for World Economics and was a John J. McCloy Distinguished Research Fellow at the American Institute for Contemporary German Studies at the Johns Hopkins University, in Washington, DC.

At Deutsche Bank, he is responsible for a globally integrated approach in economic research and is a member of the management of the Deutsche Bank think-tank, which covers a wide spectrum of issues, ranging from economic forecasting to country rating and sector analysis.

He is a member of the Committee of Wise Men on the Regulation of European Securities Markets (“Lamfalussy group”), and was also a valued adviser to Gerhard Schroder’s government.

The Geopolitics of the Financial Markets

The grave financial crisis, which has engulfed the global economy since 2008, has raised many questions. Many of these are directed at the economic and financial aspects of the crisis, and clearly these must be at the foreground at this stage. But many commentators have also wondered what the financial crisis—which was originated in what traditionally was regarded as the most sophisticated financial market in the world—will ultimately mean for the geopolitics of financial markets and financial regulation in the future.

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