Building resilience in the European Financial Services sector
While the Covid-19 pandemic has drastically reversed any sense of economic and social “normality”, governments and international institutions are increasingly focusing on easing the economic impact of the lockdown and, at the same time, defining and achieving a “new normal”. The pandemic has demonstrated the need to build a more resilient growth model and has accelerated digital transformation in many sectors.
Within this context The Economist Events organized the virtual event EUROPE’S LANDSCAPE IN THE SHADOW OF THE PANDEMIC- Romania: Transformation - Recovery - Resilience" on October 22nd 2020. The event was viewed by more than 3700 people coming from 24 countries.
Dr. Kostas Tzioumis, joined the event and the panel discussion "Building resilience in the European Financial Services sector" to share his thoughts on the unique nature of this crisis , the new risks that banks could be facing if the pandemic continues and the much-needed measures to ensure the resiliency of the European banking sector going forward.
The panel, chaired by Matthew Sherwood, senior Europe economist at The Economist Intelligence Unit, consisted of Charlotte Ruhe, managing director, central and south eastern Europe, EBRD , Luca Lazzaroli, director-general, deputy head of operations, European Investment Bank, Colin Ellis, chief credit officer, EMEA, Moody’s Investors Service and Sergiu Oprescu, president, Romanian Banking Association.
"Nobody knows how the pandemic will unfold or when it will end. That is why executives and policy makers must be decisive and agile, in order for the European financial services sector to be resilient while transitioning to the post-pandemic world" he concluded.
