Conference hosted by the Central Bank of Malta

Central banks in historical perspective: What changed after the financial crisis?

As part of a series of events organised to commemorate its 50th anniversary, the Central Bank of Malta hosted a conference on 4 May entitled Central banks in historical perspective: What changed after the financial crisis?

The conference involved the participation of economists, policymakers and representatives from financial institutions and the business community. Minister for Finance, Professor Edward Scicluna and the Governor of the Central Bank of Malta, Mario Vella, spoke at the event. The Vice-President of the Euro- pean Central Bank, Vítor Constâncio, delivered the keynote speech.

Dr Aaron G. Grech, the bank's chief economist and chief officer Economics, launched the bank’s latest publication The Central Bank of Malta’s First Fifty Years: A Solid Foundation for the Future. This publication provides a comprehensive overview of the transformation of the Maltese economy and the Central Bank of Malta over the last 50 years. The first part of this publication outlines the main trends and structural changes in the Maltese economy, including its financial system, over the past five decades. The second part of the publication reviews the changing role of the Central Bank of Malta since its inception.

The second session consisted of two speeches related to the theme of the conference. Professor Charles Goodhart from the Lon- don School of Economics delivered a speech on central bank policies before and after the crisis while the Deputy Governor of the Central Bank of Ireland, Sharon Donnery, delivered a speech on diversity from a central banking perspective.

The final session consisted of a policy panel focusing on the challenges facing central banks after the financial crisis. This panel consisted of the Governor of the Central Bank of Iceland, Már Guðmundsson, the Deputy Governor of the Bank of Canada, Lawrence Schembri and the Deputy Governor of the Central Bank of Malta, Alexander Demarco.

The publication The Central Bank of Malta’s First Fifty Years: A Solid Foundation for the Future is available on the Central Bank of Malta’s website www.centralbankmalta.org