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Monday, 19. December 201612:00 pm - 5.45 pmEuropean House Unter den Linden 7810117 Berlin

Vertretung in Deutschland

Channel of Growth, Innovation

and Productivity

Activating the Investment

Where do we stand? Which role for structural reforms and public finance?

Workshop jointly organised by the European Commission's Representation in Germany and the European Investment Bank Group.

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Program

11:45 Uhr Arrival and registration 12:00 Uhr Lunch buffet

12:45 - 12:50 Welcome

• Bernhard Schnittger, Deputy Head of Representation of the European Commission in Germany

12:50 - 13:05 Signature Event: EFSI-financed project

• Ambroise Fayolle, Vice President of the European Investment Bank

13:05 - 14:00 Opening session

• Werner Hoyer, President of the European Investment Bank• Jyrki Katainen, Vice-President for Jobs, Growth, Investment

and Competitiveness, European Commission• Q&A

14:00 - 14:25 Investment in Germany – achievements and remaining challenges

• Philipp Steinberg, Director-General for Economic Affairs at the German Federal Ministry of Economic Affairs and Energy (BMWi)

14:25 – 15:55 Panel 1: Investment trends (past and future), investment needs, investment gaps

• Keynote: Pedro de Lima, Head of Economic Studies Division, Economics Department, EIB: Results of EIB analysis with a focus on Germany and the EU

• Keynote: Manfred Bergmann, Director, Directorate-General for Economic and Financial Affairs, European Commission: Insights from the In-depth Analysis and the Country Report 2016 and 2015 of the European Commission with special focus on Germany

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19. Dezember 2016

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Panel discussion:

• Manfred Bergmann, Director, Directorate-General for Economic and Financial Affairs, European Commission

• Romualdo Massa Bernucci, Director for Germany, European Investment Bank

• Jeromin Zettelmeyer, Senior fellow, Peterson Institute, Washington, D.C.

Moderator: Natacha Valla, Head of Policy and Strategy Division, Economics Department, EIB

15:55 - 16:10 Coffee break

16:10 - 17:30 Panel 2: The road ahead: How to close the finance gap and which role for public finance?

• Keynote: Thomas Westphal, Director General for EU Affairs at the German Federal Ministry of Finance (BMF)

Panel discussion:

• Sylvain Broyer, Chief Economist, Natixis • Thomas Westphal, German Federal Ministry of Finance (BMF)• Jörg Zeuner Chief Economist, KfW• Roger Havenith, Deputy Chief Executive, European Investment

Fund (EIF)

Moderator: Ingmar Juergens, Senior Economic Advisor, Representation of the European Commission in Germany

17:30 - 17:45 Closing Remarks

• Debora Revoltella, Director of the Economics Department, European Investment Bank (EIB)

• Manfred Bergmann, Director, Directorate-General for Economic and Financial Affairs, European Commission

17:45 Buffet reception

Conference language: English

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Werner Hoyer

President of the European Investment Bank

Werner Hoyer has been President and Chairman of the Board of Directors of the Eu-ropean Investment Bank since 2012. Dr Hoyer was Deputy Foreign Minister at the German Foreign Office between 2009 and 2011 after having been Deputy Chairman and Foreign Affairs Spokesman of the Free Democratic Party (FDP) between 2002 and 2009. Dr Hoyer was a Member of the German Bundestag between 1987 and 2011 and also held the positions of Whip and Security Policy Spokesman, FDP’s Deputy Chair-man, Deputy Chairman of the German-American Parliamentary Friendship Group and FDP Secretary General. He was Deputy Foreign Minister at the German Foreign Office between 1994 and 1998 and President of the European Liberal Democratic Reform Party (EDLR) between 2000 and 2005. Dr Hoyer holds a PhD in economics from the Cologne University where he also started his career as Senior Research Assistant then as Associate Lecturer, before becoming Director of Economics and Information (Carl Duisberg Society) in 1985.

Speakers

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Ambroise Fayolle

Vice President of the European Investment Bank

Ambroise Fayolle is Vice President of the European Investment Bank (EIB). Before joi-ning the EIB, he was Chief executive at the Agence France Trésor of the Ministry of Finance in Paris (2013 - 2015). Prior to that, he was Executive Director for France at Boards of the IMF and the World Bank (2007-2013). He worked for the IMF in Washing-ton D.C. as Alternate Executive Director (1995-1997) and then as Assistant Director at the Africa Department and Policy Development and Review Department (2003-2005).He began his career in Paris at the European Affairs Department and Department of Treasury of the Ministry of Finance (1991-1995) and continued there as Division Head of the Government Funding and Monetary Affairs (1997-2001). He then became De-puty Assistant Secretary for Debt, Development and Emerging Countries (2001-2003) and Assistant Secretary for Multilateral Affairs and Development (2005-2007) at the Department of Treasury of the Ministry of Finance. He was also Co-Chairman of the Paris Club and G8 soussherpa (2005-2007). He graduated from the Ecole Nationale d’Administration (1989-1991) and Sciences Po Paris (1986) and obtained a Law De-gree at the Université Paris Sorbonne (1987).

Jyrki Katainen

Vice-President for Jobs, Growth, Investment and Competitiveness, European Commission

Jyrki Katainen is currently Vice-President of the European Commission responsible for Jobs, Growth, Investment and Competitiveness. He joined the college in July 2014 as Vice-President for Economic and Monetary Affairs and the Euro. Before that he served as Prime Minister of Finland, 2011 – 2014 and Minister of Finance, 2007 - 2011. He was Member of Finnish Parliament 1999 - 2014 for the National Coalition Party (Kokoomus). He was Member of the Finnish Delegation to the OSCE Parliamentary Assembly 2003 - 2007, Member of the Administrative Council of the Finnish Broadcasting Company 2003 - 2005, Member of the Finish Delegation to the Western European Union Parliamentary Assembly 2004 - 2005 and the Deputy Member of the Finnish Delegation to the Nordic Council 2001 -2003. Jyrki Katainen has MSc in Political Science from the University of Tampere, Finland (1998) and he did an Erasmus exchange year at the University of Leicester, UK.

Bernhard Schnittger

Deputy Head of Representation of the European Commission in Germany

Bernhard Schnittger studied political science and international relations at the Universi-ty of Marburg, London School of Economics and at the Freie Universität Berlin, followed by post-graduate studies of information technologies in Berlin. He joined the European Commission in 1995 and has worked in various policy areas including eGovernment, transport and satellite navigation. In 2014 he was appointed deputy Head of the Re-presentation of the European Commission in Germany and head of the political sector.

Romualdo Massa Bernucci

Director for Germany, European Investment Bank

Romualdo Massa Bernucci holds a degree in Economics from the University "La Sapien-za" (Rome) and an MBA from the Luigi Bocconi University (Milan). He joined the EIB in 1985 after professional experiences in a finance company in Rome, a bank in Milan and at the United Nations Commission for Africa, as economist, based in Addis Abeba. He started in the European Investment Bank in the sector of operations for ACPs and Egypt and afterwards, as Deputy Head of Division he worked for operations in Italy, Malta and Cyprus. In January 2004 he became Head of Division leading the operations in Western Balkans, including Slovenia and Croatia, and Cyprus. In July 2007 he was appointed Head of the Adriatic Sea Department being responsible for operations in Italy, Malta, Slovenia, Croatia and the Western Balkans. He was appointed Deputy Director General in the Directorate for Operations in October 2015. Since January 2016, he heads the Baltic Sea and Northern Europe Department, in charge of operation in Germany, Poland, Baltic and Scandinavian States.

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Manfred Bergmann

Director, Directorate-General for Economic and Financial Affairs, European Commission

Manfred Bergmann is Director at the Directorate-General for Economic and Financial Affairs (DG ECFIN) of the European Commission since July 2016. He is responsible for macro-economic analysis of Member States like Germany, Spain, Austria or Netherlands. Before being appointed Director at the Taxation and Customs Union Directorate General (DG TAXUD) in July 2011, he had been a Head of Unit in charge of Industrial Competitiveness Policy at the Directorate-General Enterprise and Industry (DG ENTR) between 2008 and 2011, and in charge of the Economic Evaluation of Community Policies in DG ECFIN from 1997 to 2007. Between 2005 and 2007 he was also Alternate Member at the Impact Assessment Board of the European Commission. He joined DG ECFIN of the European Commission in 1988. Manfred Bergmann holds a PhD in Economics from the University of Münster where he wrote about the rational allocation of competences between the European Union and the Member States (1991).

Philipp Steinberg

Director-General for Economic Affairs at the German Federal Ministry of Economic Affairs and Energy (BMWi)

Philipp Steinberg is the Chief of Staff to German Vice-Chancellor Sigmar Gabriel in the German Federal Ministry for Economic Affairs and Energy. He is Deputy Director General of the Department for Political Planning and Strategy. Earlier, he worked in the Federal Ministry of Financial Affairs in the Budget – and European Affairs Directorates as well as in the Headquarters of the Social Democratic Party where he headed the Financial Policy Unit and was Special Advisor to Party Chairman Sigmar Gabriel. After having received his International Baccalaureate from the United World College of the Atlantic in Wales, GB, he studied law, economic policy and taxation at the universities of Berlin (Humboldt-University), Paris (Panthéon-Assas) and Münster (Westfälische Wilhelms Universität). He holds a PhD in economic law, an MBA and a Licence en Droit.

Pedro de Lima

Head of Economic Studies Division, Economics Department

Pedro J. F. de Lima, Head of Economic Studies at the Economics Department of the European Investment Bank, responsible for the analysis of structural topics relevant for European economies and the activities of the EIB. As such, he is in charge of the EIB’s Annual Report on Investment and Investment Finance as well as of the EIB Group Sur-vey on corporate investment across the EU. Prior to joining the EIB, he worked as senior economist with the OECD in Paris and the European Central Bank in Frankfurt, and was Associate Professor of Economics at the Johns Hopkins University, USA. He holds a PhD in Economics from the University of Wisconsin-Madison, USA and has various publi-cations encompassing Macroeconomics, Financial Economics, Labour Economics, and Time Series Econometrics. He is currently Adjunct Professor of Economics at the John F. Welch College of Business, Sacred Heart University (Luxembourg campus) teaching courses on Derivatives and Risk Management.

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Jeromin Zettelmeyer

Senior fellow, Peterson Institute, Washington, D.C.

Jeromin Zettelmeyer has been a senior fellow at the Peterson Institute for Internati-onal Economics since September 2016 and was a nonresident senior fellow during 2013–14. From 2014 until September of 2016, he served as director-general for eco-nomic policy at the German Federal Ministry for Economic Affairs and Energy, reporting to Vice-Chancellor Sigmar Gabriel, where he was responsible for economic analysis and forecasting, the microeconomic policy framework, and a key policy initiative to boost private and public investment. He also represented Germany at the OECD Economic Policy Committee and served as a founding cochair of the OECD’s Global Forum on Pro-ductivity. Before joining the German government, Zettelmeyer was director of research and deputy chief economist at the European Bank for Reconstruction and Development (August 2008–March 2014), where he cowrote and edited the Transition Report and other EBRD flagship publications and contributed to the modernization of the EBRD’s development strategy in emerging Europe and Central Asia. Prior to that, he was a staff member of the International Monetary Fund, where he worked in the Research, Western Hemisphere, and European II departments (1994–2008). Zettelmeyer holds a PhD in economics from MIT (1995) and an economics degree from the University of Bonn (1990). He is a member of the World Economic Forum’s Global Future Council on Financial and Monetary Systems.

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Thomas Westphal

Director General for EU Affairs at the German Federal Ministry of Finance (BMF)

Thomas Westphal was born in Hamburg. He is a trained banker and holds a degree in economics. He started his career in Paris at Paribas and at the economic research institute REXECODE. He joined the German Federal Ministry of Economics in 1992 as a desk officer for competition policy. From 1995 to 1998 he worked for the European Commission’s DG MARKT as a national expert. In 1999, he moved to the Federal Ministry of Finance in Berlin. Having been involved in establishing the economic analysis team after the birth of the Eurogroup, he worked with State Secretary Cajo Koch-Weser. After that he headed the Ecofin unit of the Ministry and was the alternate member of the Economic and Financial Committee. From 2005 to 2009, Thomas Westphal worked at the German Permanent Representation to the EU as head of the finance department where he contributed to the Council presidency which Germany held in 2007. He returned to the Ministry of Finance as director for European Monetary Union in 2009. Since then he is closely involved in resolving the European debt crisis, including the establishment of the first help program for Greece, the building-up of the EFSF, the EFSM and the ESM. Since 2012 Thomas Westphal is Director General for European Affairs in the Federal Ministry of Finance.

Sylvain Broyer

Chief Economist, Natixis

Sylvain holds doctorate degrees in economics from the Universities of Frankfurt and of Lyon as well as a certification by the International Securities Market Association (ISMA). In 2000, he joined the Portfolio Management team of the French Caisse des Dépôts et Consignations office in Frankfurt. In 2002, Sylvain joined the economic research team of the group and is Head of Economics since 2008. He has been appointed as Member of the General management of the Natixis Frankfurt Branch in November 2015. He also writes columns for leading European economic magazines, teaches at Paris Dauphine University for the Master in banking and has published numerous scientific papers as well as chapters in academic textbooks. Sylvain is member of the “ECB shadow Council”, the Handelsblatt’s panel of leading European economists, since November 2012.

Jörg Zeuner

Chief Economist, KfW

Dr Jörg Zeuner took on the position of Chief Economist at KfW in September 2012. Having gained a Master of Science in Economics at the University of Glasgow, he then went on to complete a PhD in Economics at the University of Wurzburg. Alongside his PhD, he was able to gather international work experience at the Korean-German Chamber of Commerce and Industry, KfW and the World Bank in Ethiopia. Following this, he worked at the International Monetary Fund in Washington DC for almost 10 years, before becoming Chief Economist at VP Bank in Liechtenstein in 2008. Dr Zeuner also lectures at the University of St. Gallen (HSG) and the University of Konstanz.

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Debora Revoltella

Director of the Economics Department,European Investment Bank (EIB)

Debora Revoltella is the Director of the Economics Department of the European Inves-tment Bank. The Department provides impact-driven economic analysis to support the EIB in its policy and strategy definition and in its operations, with a team of some 30 economists. The main publications include the EIB Annual Report on Investment and Investment Finance in Europe, regular Economic Notes on structural issues concerning the European economy, publications on the state of the banking sector of the different regions of operations of the EIB as well as the EIB Report on Results, which assesses the development impact of projects financed by the EIB. Since 2016, the Department in also in charge of the new EIB Survey on Investment and Investment Finance, tar-geting 12,000 European firms each year. Before joining the EIB, Debora was the Chief Economist for Central and Eastern Europe in UniCredit, managing a team of some 45 economists in the CESEE region. She holds a degree in Economics and a Master in Eco-nomics from Bocconi University as well as a PhD in Economics from the University of Ancona in Italy. Debora is a member of the SUERF Council of Management, a member of the EURO50 scientific board and a member of the Steering Committee of the Vienna Initiative and an alternate member of the Board of the Joint Vienna Institute.

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Natacha Valla

Head of Policy and Strategy Division, Economics Department, European Investment Bank (EIB)

Natacha Valla is Head of the Policy and Strategy Division of the Economics Department at the European Investment Bank and a permanent member of the Conseil d’Analyse Economique (CAE) at the Prime Minister’s Office in France. Her research interests include investment, monetary policy, international macroeconomics, financial stability and applied macroeconomics. Natacha Valla sits also in the scientific committee of the French banking supervisory and resolution body (ACPR) and in the Commission Economique de la Nation (nominated advisory group to the Finance Minister). She is a member of the Société d’Economie Politique andof the Council of SUERF – The European Money and Finance Forum. Natacha Valla was the Deputy Director of CEPII between 2014 and June 2016, where she also headed the scientific programme International Macroeconomics and Finance. Before joining the CEPII, Natacha Valla was Executive Director at Goldman Sachs Global Economic Research between 2008 and 2014, where her focus was on financial economics and macroeconomic developments in the euro area, France and Italy. Natacha worked at the European Central Bank between 2001-2008 on the monetary policy stance and aspects of policy implementation in money markets. She has also lectured international economics at Sciences-Po Paris. In 2005, she was seconded at the Research Directorate of the Banque de France in Paris. Prior to that, she has been a consultant for the IMF and the OECD, and taught at the Universities of Florence, Paris-Dauphine and H.E.C. She received a PhD in Economics from the European University Institute (Florence) in 2003 on “Learning and distribution in monetary economics” dealing with income distribution and learning models applied to monetary economics. She has written articles and contributed to collective works on financial stability, banking and financial markets, monetary policy making and implementation, as well as real interested rate measures.

Ingmar Juergens

Senior Economic Advisor, Representation of the European Commission in GermanyIn June 2013, Ingmar Juergens was appointed Senior Economic Advisor of the European Commission at its representation in Germany, based in Berlin. In 2015, Ingmar was nominated as coordinator of economic and financial policy and also serves as focal point for the EU Investment initiative in Germany. Prior to this, Ingmar spent time advising the interim-secretariat of the Green Climate Fund in Bonn and served as Associate Director of the Germany Office of the Climate Policy Initiative (CPI), with a focus on energy finance and the economic analysis of German and EU energy and climate policy. With over fourteen years of experience in international policy and economic analysis, Ingmar has worked for the European Commission, the United Nations Food and Agriculture Organization (FAO), and the OECD.

Roger Havenith

Deputy Chief Executive, European Investment Fund (EIF)

Roger Havenith was appointed Deputy Chief Executive at EIF in January 2016. Previously, he was heading the EC’s DG ECFIN Unit L2 on financing of innovation, competitiveness and employment policies for more than five years. His long-standing professional career with the EC – which he joined in 1990 – includes several key roles: among others, he was a Commission negotiator and member of the EC team in charge of the European Fund for Strategic Investments (EFSI) SME Window, as part of the Investment Plan for Europe. For several years he also led the EC’s Designated Service responsible for the negotiation, implementation and oversight of financial instruments under CIP, EPMF, MAP and other initiatives. Roger Havenith has a B.A. in Business Administration from HEC St. Louis in Brussels (Belgium) and LL.M. in International and Comparative Law from Vrije Universiteit Brussel. He also earned a postgraduate degree in European Studies from Institut d’Etudes européennes de l’Université Libre de Bruxelles and M.A. from Licencié-Interprète, Institut supérieur de Traducteurs et Interprètes.

Moderation

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European Commission in GermanyEuropean HouseUnter den Linden 7810117 Berlin