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Annual Reception 2016

Annual Reception 2016

CEO Carsten Kengeter, the President of the European Central Bank Mario Draghi, Chairman of Deutsche Börse AG Dr Joachim Faber (f.l.t.r.)

25 Jan 2016
The Cube Eschborn
Deutsche Börse AG

On 25 January 2016, Deutsche Börse welcomed some 800 high-ranking business executives, leaders and representatives from politics and science to its headquarters in Eschborn for an exchange of ideas.

Dr Joachim Faber, Chairman of the Supervisory Board of Deutsche Börse, welcomed attendees in his opening address, which focused on the current state of the European economy: “Essentially, Europe as we know it today has been built over the past 25 years, since the wall came down. If the geopolitical circumstances of 1990 needed a stronger, converging Europe, this need is even more acute today. The challenges of the financial crisis, the sovereign debt and Greek crisis and now the refugee crisis have hit Europe in the midst of its puberty.”

In his keynote speech, Mario Draghi, the President of the European Central Bank (ECB), emphasised the role of the ECB and explained its policy concerning price stability: “We can take the measures necessary to strengthen our economies and make them more resilient to global shocks. For that, all policymakers need to play their part. The key element is confidence. Confidence in growth, confidence in stability, and confidence in the future of the euro area. Only by building confidence can we turn the ongoing cyclical recovery into a robust, structural recovery.” To reach this stable recovery, the policymakers would have to focus on four main areas: “Concerted action on fiscal policies, structural reforms and reducing the debt overhang. Most of all, we need to continue the process to complete our monetary union on all the necessary fronts.”

In his closing words, Deutsche Börse AG CEO Carsten Kengeter, portrayed the company’s role in the context of the two previous speakers: “As a key player in the European financial markets infrastructure, Deutsche Börse also contributes to European cohesion, and thus to the success of the European project.” According to Mr Kengeter, this requires economic growth, amongst other factors – and in his view, this calls for a cultural change towards a new, courageous, realistic entrepreneurial spirit. He added that such growth cannot be seen in isolation: “No financial centre is an island. Europe is no island, either: we find ourselves competing on a global scale. And it is our responsibility to be successful in this competition.” Mr Kengeter pointed out that this will require taking flexible and courageous steps – entrepreneurial action.

Annual London Reception

Things were also formal and festive on 1 February 2016 in the Merchant Taylors’ Hall in London, where Deutsche Börse Group hosted its traditional Annual Reception.

About 300 representatives of the financial industry, of the various watchdogs, trade associations, the media, and the diplomatic community had taken up the invitation. CEO Carsten Kengeter welcomed the guests in the ancient hall and introduced the key speaker of the evening, the German Ambassador to London, Dr Peter Ammon.

In his keynote, Dr Ammon described the major global trends and challenges in 2016. According to him they include the end of the commodities boom, the globalisation of terrorism and thus of migration as well as increasing political populism and nationalism. “The core of our dilemma today seems to be that most risks we are facing are international in nature, but the politics that steer our strategies are domestic. National solutions make the false promise that there will always be someone else to carry the burden.” Ambassador Ammon therefore made a case for more rather than less Europe. In his opinion, a “Brexit” or Great Britain’s possible exit from the European Union (EU) would not only weaken the economy, but also the EU’s political muscle. “Only a united Europe can muster the critical mass necessary to address these issues.” Ammon also emphasized that the shape of the EU of today is the result of countless British initiatives. “We need your pragmatism, your openness to the world, your intellectual brilliance,” he said, appealing to his listeners to advocate Britain remaining within the EU.

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