Aspects of the ECB’s monetary policy: State-of-play and future prospects

Aspects of the ECB’s monetary policy: State-of-play and future prospects

Monday, 27 February 2017 - 5:00pm
Seminar Room, European Studies Centre, 70 Woodstock Road, Oxford OX2 6HR
Iannis Mourmouras (Deputy Governor, Bank of Greece)
Charles Enoch (St Antony’s College, Oxford)
Adam Bennett (St Antony’s College, Oxford); David Vines (Balliol College, Oxford)
Political Economy of Financial Markets (PEFM)


State of play: targets and instruments of the ECB’s policy

  • Inflation targeting 15 years on
  • The limits of unconventional negative rates
  • The ECB’s Quantitative Easing
  • Emergency Liquidity Assistance
  • Central bank independence revisited

Future prospects

  • The global monetary policy outlook and divergent policies
  • Towards an exit strategy for the ECB:  Is tapering on the cards in 2017?

John (Iannis) Mourmouras was born in Thessaloniki on 9 March 1965. Professor of Macroeconomics at the Department of Economics, University of Macedonia - Thessaloniki, Greece (he was unanimously elected to a Chair at the age of 36 in 2001). He previously held academic positions at well-known British universities (in London, Southampton, and Edinburgh) and was a Visiting Professor at US and European Universities. He holds a PhD from the University of London and is a graduate of the LSE. He is an expert on the Economic and Monetary Union in Europe and the author of three books on this topic; the most recent is the two-volume book: “The double sovereign debt and banking crisis” (2014).

Professor Mourmouras served as Deputy Finance Minister of Greece (2011-2012) and was Chief Economic Advisor to the Greek Prime Minister, as well as Head of the PM’s Economic Office (2012- 2014).

In the recent past, he has been invited to give a series of lectures on the European debt crisis in world-renowned universities and institutions, inter alia, Harvard University, the Council on Foreign Relations (New York), the Brookings Institution, the Institute of International Finance (Washington DC), LSE, Bruegel Institute, Columbia Business School and OMFIF.

In September 2014, he was appointed Deputy Governor of the Bank of Greece with responsibilities pertaining to the implementation of monetary policy, international capital markets, payment and settlement systems, and bank resolution. Professor Mourmouras is also Chairman of the Financial Asset Management Committee and the Resolution Measures Committee, and sits on several other committees within the Bank (including the Financial Stability and Risk Management Committees).

A PEFM-SEESOX cooperation