Distinguished Public Lecture
The Department of Business Administration
organizes the Distinguished Public Lecture
”Monetary Policy, Deleveraging and Soundness of Banks in the Eurozone and
To be held on Thursday, December 15th 2011.
Venue: Antoniadou Amphitheater,
18.00-19.00 Chair: Ioannis Rokas (AUEB)
Speaker: Gligor Bishev
President of the Board of Directors and CEO, Stopanska Banka AD –
Professor Gligor Bishev Ph.D. is the President of the Board of Directors and Chief Executive Officer of Stopanska Banka, a member of the National Bank of Greece Group. Professor Bishev is Associate Professor at the Faculty of Economics, Prilep and Professor at the Post-Graduate studies at the
Abstract: After two and a half years of good statistics, the world economy is facing again a high degree of uncertainty. Global slowdown, high public debt, high indebtedness of the private sector in some countries and accelerating inflation are main features of the current economic developments. It seems that 2008-2010 restructuring was not deep enough. High indebtedness threatens again to undermine the stability of the financial sector and freeze credit markets. New comprehensive restructuring is becoming inevitable. Three sets of policy measures are needed. First, measures for reducing public and private debt. Second, measures for maintaining solvency of the financial sector, as a healthy financial system is a prerequisite for sustainable economic growth. Third, measures for maintaining the aggregate demand at optimal level for attaining dynamic economic growth.
In such environment the choice of optimal monetary policy in Eurozone and SE Europe countries has become an extremely difficult task, given that the monetary policy should, at the same time, achieve two conflicting goals: to support the growth of the aggregate private consumption and to support the deleveraging of the public and private sector.
19:00-19:30: Questions and open discussion