Round Table: “The regulation of the banking system after the financial crisis: a comparison between Ireland and Slovenia”
The round table “The regulation of the banking system after the financial crisis: a comparison between Ireland and Slovenia” which took place on the 26th of November 2014 in the Mobitel Hall at the Faculty of economics consisted of a panel of four esteemed guests. Dušan Mramor, Ph.D., Finance Minister; Boštjan Jazbec, Ph.D., Guverner of the Bank of Slovenia; France Arhar, Ph.D., President of the Bank Association of Slovenia; and special guest Charles Larkin, Ph.D., Trinity College, all the way from Dublin, Ireland. The participants discussed banking regulation following the financial crisis, with an emphasis on Slovenia and Ireland.
The Round Table began with an address by the dean of the Faculty of Economics, prof. Metka Tekavčič, Ph. D., It was moderated by Matej Marinč, Associate Professor at the Faculty of Economics in Ljubljana. Prof. dr. Boštjan Jazbec began with an introductory presentation on the topic of banking regulation and the current situation. He explained how financial crisis are always followed by changes in regulations, underlying problems become apparent when a financial crisis hits. This was followed Prof. Jazbec was Dr. Larkin, who went into great detail about what lead to Ireland’s 2008 financial crisis and stated that small nations have an equal voice, but small nations had a small voice in the profound crisis in 2008 and this created a lasting effect in Ireland. Prof. Mramor discussed the current situation in the banking sector today and how financial systems rely on trust, but this leaves the door open for mistrust and the cure for this is regulation. It is less clear if banks are still in the business of taking risks. Banks seem to be afraid of investing and taking risks and this leads to restrictions and even more regulation. The discussion was concluded out by Dr. France Arhar, who discussed the history of banking systems, issues with regulations, and statistical data that led to the financial crisis. Questions were very welcome and answered enthusiastically by the panel. The event left us with the clear impression that the Slovenian banking system is in good hands and has a prosperous future.
Leeanna Whirl, EFnews
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