Claudia Buch: Financial stability implications of the current geopolitical situation

Speech by Prof Claudia Buch, Vice-President of the Deutsche Bundesbank, at the Centre for Economic Policy Research (CEPR) Symposium "Panel on systemic risk: Where is the next financial crisis coming from?", Paris, 2 June 2022.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Thank you very much for inviting me to speak here at the CEPR Symposium and particularly on this panel in honour of Richard Portes. Richard's work has been tremendously important for the economics profession in Europe. The Centre for Economic Policy Research has been a central hub for innovative research and constructive policy discussions ever since its foundation in 1983. I remember very well the many Bundesbank conferences – particularly at our conference centre in Eltville – that Richard attended. His contributions to the debates were always extremely insightful, based on excellent research of his own and his network, but they also highlighted the political constraints and relevant issues surrounding real-world policy decisions. And, like others on this panel, I have learned a great deal from Richard during our work for the European Systemic Risk Board.

So: Thank you very much Richard for all that you have done for our profession, for bringing expert minds together, and for improving research and evidence-based policy-making in Europe. We look forward to working with you in the same spirit in the future. More than ever, we need both – good research on society's most pressing issues and evidence-based policymaking.