Interview met Vincent Van Peteghem, federaal Minister van Financiën.
Interview met Karel Baert, CEO van Febelfin.
This is the panel contribution by Philip R. Lane, Member of the Executive Board of the ECB, at the Lámfalussy Lectures E-Conference 2021 organised by the Magyar Nemzeti Bank on 25 January 2021.
China is one of the few countries to show positive growth in 2020 and even seems to have emerged stronger from the pandemic. As China implements its 14th Five-Year Plan, the question arises as to how China has managed to emerge from the COVID-19 crisis so quickly, as well as what the implications for the rest of the world might be. A colossus with feet of clay or a real power? The fact remains that today, the time when China was reduced to the image of the world's factory for consumer goods seems long gone, to the point that its desire to take a dominant position in the world is becoming stronger every day.
Interview avec Pierre Wunsch, Gouverneur de la Banque Nationale de Belgique.
Interview met Hilde Vernaillen, CEO van P&V Group en voorzitster van Assuralia.
This is the speech given by Fabio Panetta, Member of the Executive Board of the ECB, at a Bruegel online seminar (Frankfurt am Main, 10 February 2021
In October 2020, the Eurosystem central banks published their report on a digital euro. The analyses focus on an electronic form of central bank money that is available for all citizens and companies to make their daily payments. This article aims to discuss the possible future scenarios in which a digital euro would be a viable option to achieve the central banks objectives (fostering price stability, encouraging financial stability, and guaranteeing safe and efficient payment systems) and elaborates on the guiding principles set out by the Eurosystem central banks.
The COVID-19 crisis has taken its toll on the Belgian corporate sector. A sudden drop in revenues and imperfect downscaling of costs has put considerable pressure on firms’ cash buffers. In this article, we document the pockets of corporate liquidity and solvency risk and examine the role of various policy measures taken to keep businesses afloat. We show that the support measures taken have successfully dampened cash outflows of firms. Despite these interventions, approximately one out of six non-financial firms are estimated to remain with pressing cash deficits attributable to the pandemic prior to the start of the second wave. Our analysis documents a non-trivial rise in solvency risk. Losses caused by the COVID-19 crisis have severely eroded many firms’ equity in the most affected sectors and replenishing their cash reserves would involve a substantial rise in their indebtedness in the absence of alternative financing sources.
The FSMA (Financial Services and Markets Authority) is one of the two supervisory authorities for the financial sector in Belgium, whose mandate also includes contributing to the financial education of the public. As part of this task, it recently created a financial education centre that is unique in its kind: the Wikifin Lab. This is an experience centre that welcomes secondary school groups, free of charge, for a visit that enables students to undergo a truly interactive and fully digital experience of financial education centred on various themes relating to budget management. The Wikifin Lab meets the objectives of official school curricula and intends to equip young people to take charge of their financial future. Since the launch of the Wikifin Lab in September 2020 in the presence of Her Majesty Queen Mathilde of Belgium and of political representatives, requests for visits have been pouring in.