Euro Adoption in the Accession Countries-Opportunities and Challenges

Monday, February 2 
8:00  Registration
9:00  Keynote Addresses 
Horst Köhler, Managing Director, IMF 
Tommaso Padoa-Schioppa, Member of the Executive Board, ECB
9:45  Session 1-Real Convergence and Euro Adoption 

Chair: Ivan Mikloš, Deputy Prime Minister and Minister of Finance, Slovak Republic

Real Convergence and Euro Adoption in Central and Eastern Europe 
Jeffrey Frankel, Harpel Chair, Harvard University

Discussant: Jean Philippe Cotis, Chief Economist, OECD

The Acceding Countries´ Strategies Toward ERM II and the Adoption of the Euro: An Analytical Overview 
Christian Thimann, Head of Division, DG International and European Relations, ECB

Discussant: Sue Owen, Director EMU Policy, HM Treasury U.K., and U.K. Alternate Member of EU Economic and Finance Committee

11:15  Coffee Break
11:30  Session 2-Role of Monetary Independence in the Accession Countries

Chair: Zsigmond Járai, President, Magyar Nemzeti Bank

Exchange Rate Regimes and Macroeconomic Stability in Central and Eastern Europe 
Paul De Grauwe, Katholieke Universitet Leuven

Discussant: Michael Artis, European University Institute, Milan

Real Convergence, Capital Flows, and Monetary Policy 
Leslie Lipschitz, Director, IMF Institute

Discussant: José María Vińals, Director General, International Issues, Banco de Espańa

1:00  Lunch - Carlo IV, Senovazne Namesti 3 

Speaker: Pedro Solbes, Commissioner, European Commission for Economic and Monetary Affairs
2:45 Session 3-Preconditions for Successful Euro Adoption: Fiscal Policy and Labor Markets 

Chair: Wiesław Szczuka, Alternate Executive Director, Office of Executive Directors, IMF

Fiscal Positions and Sustainability 
Jürgen von Hagen, University of Bonn, Indiana University, and CEPR

Discussant: Jiri Jonas, Senior Advisor, Office of Executive Directors, IMF

Euro Adoption and the Labor Market 
Tito Boeri, Bocconi University, Milan

Discussant: Robert A. Feldman, Assistant Director, European Department, IMF

4:15  Coffee Break
4:30    Session 4-Pre-conditions for Successful Euro Adoption: Financial Markets and Macro Frameworks 

Chair: John Hurley, Governor, Central Bank and Financial Services Authority of Ireland

The Euro and the European Financial Industry 
Francesco Giavazzi, Bocconi University, Milan

Discussant: Mr. Uldis Cerps, Chairman, Financial and Capital Markets Commision, Riga, Latvia

ERM2 and the Maastricht Criteria 
Johan Baras, Head of Unit, Monetary Affairs, DG Economic and Financial Affairs, European Commission

Discussant: György Szapáry, Deputy Governor, Magyar Nemzeti Bank

7:00   Dinner - Grand Hotel Bohemia, Kralodvorska 4 

Speaker: Zdeněk Tůma, Governor, Czech National Bank
Tuesday, February 3 
9:00  Session 5-Strategies for Euro Adoption: Key Considerations 

 Willy Kiekens, Executive Director, Office of Executive Directors, IMF

Two Roads to the Euro: The Monetary Experiences of Austria and Greece 
Eduard Hochreiter, Senior Adviser and Head, Economic Studies, Oesterreichische Nationalbank 
George Tavlas, Director-Adviser, Economic Research Department, Bank of Greece

Discussant: Mitja Gaspari, Governor, Bank of Slovenia

Charting a Course to Euro Adoption 
Susan Schadler, Deputy Director, European Department, IMF

Discussant: Helmut Wagner, University of Hagen

10:30  Coffee Break
11:00  Roundtable Discussion

Leszek Balcerowicz, Governor, National Bank of Poland 
Michael Deppler, Director, European Department, IMF 
Edmond Alphandery, Chairman, Supervisory Board of CNP, France 
Klaus Regling, Director General, ECFIN, European Commission 
Peter Garber, Global Risk Strategist, Global Markets Research, Deutsche Bank 

1:00 Lunch - Plzeňská Restaurant at the Municipal House