COVID-19 currently controls everything. Governments are closing schools, imposing curfews, and the German Federal Ministry of Finance is launching a multi-billion dollar aid programme to protect jobs and businesses. The banking sector is an essential component of the global economy and thus vital to Germany and Europe. If COVID-19 strikes the financial sector, a crisis like the one in 2008 could develop quickly.
At the virtual press briefing on 26 March 2020, Prof. Dr. Sascha Steffen will discuss the extent to which COVID-19 could be the trigger for a possible new financial crisis and what the options are to avoid this.
"The market must not be in any doubt that the ECB and the governments in the eurozone guarantee liquidity to the banks. A renewed financial crisis must now be prevented quickly and jointly," says Prof. Dr. Sascha Steffen. The Professor of Finance at the Frankfurt School is currently researching the effects of COVID-19 on the financial sector and has recently published two scientific articles: "A Protective Shield for Europe's Banks" and "Stress tests for banks as liquidity insurers in a time of COVID".
The introduction will be in English; the discussion will be in either German or English.
We cordially invite you to this press briefing and ask you to register with Vera Klopprogge (firstname.lastname@example.org).
After your registration, we will send you a link for a Zoom-Meeting. If you click on the link provided, you will be asked to install Zoom (takes about 2 min). You do not need to register for a Zoom account, you can participate directly and for free. We recommend a PC/laptop with camera and a headset. Note: the virtual press briefing will be recorded.