Challenges Facing the Euro

In an illuminating lecture on 17 September 2019, Mr Villeroy de Galhau highlighted the many tangible assets that the Euro has already provided within the Euro area and the growing confidence of EU citizens in their currency since its introduction. Looking ahead, he spoke of the need for a ‘dynamic, progressive view’ with a focus on building a stronger Europe, against the backdrop of Brexit. He stressed three key priorities: strengthening resilience, increasing growth and affirming sovereignty.

François Villeroy de Galhau is the Governor of the Bank of France, a position he has held since November 2015. He is a member of the Governing Council of the European Central Bank. From 1990 to 1993, he was European advisor to the Minister of Finance and Prime Minister Pierre Bérégovoy. He then held various posts at the French Treasury in Bercy, before becoming financial advisor at the Permanent Representation of France in Brussels. Under the government of Lionel Jospin, he was chief of staff of the Minister of the Economy and Finance, Dominique Strauss-Kahn from 1997 to 1999 and Christian Sautter from 1999 to 2000. He was head of the General Tax Directorate from 2000 to 2003. In 2003, he became the Chief Executive Officer of Cetelem, the consumer credit company of BNP Paribas group, then headed the group’s retail banking activities in France (2008). He served as Chief Operating Officer of BNP Paribas group, in charge of domestic markets then of corporate social responsibility, from December 2011 until May 2015, when the French government entrusted him with an assignment on investment financing.

Chair: Iain Begg (@IainBeggLSE), Professorial Research Fellow at the European Institute and Academic Co-Director of the Dahrendorf Forum.

The event was co-hosted by the European Institute and the Dahrendorf Forum at LSE IDEAS.

A podcast of the full lecture can be streamed or downloaded here.