Program

Opening remarks by Mugur Isărescu, NBR Governor

All sessions chaired by Cristian Popa, NBR Deputy Governor

Section I: Inflation Targeting and the New Global Crisis Context; Lessons and Challenges

• Marek Belka, President, National Bank of Poland -  Inflation targeting and the new global crisis context; lessons and challenges
• Zdenĕk Tůma, former Governor, Czech National Bank -  Choosing Inflation Targeting as a Flexible Monetary Policy Framework
• Alex Cukierman, Professor, Tel-Aviv University -  Inflation Targeting and Financial Stability - Lessons from the Crisis

Section II: Emerging Markets: Catching-Up or Constraints to Long-Term Growth Context; Lessons and Challenges

• Jean Pisani-Ferry, Director, BRUEGEL, Brussels -  Emerging Europe and the EU: Is the growth model broken?
• Gian Maria Milesi-Ferretti, Assistant Director, Research Department, IMF -  Capital Flows and Exchange Rates: A Look Back and a Look Ahead
• Aaron Tornell, Professor, Department of Economics, UCLA -  Financial Black Holes

Section III: New Perpectives on Financial Stability

• Maxwell Watson, Fellow, Wolfson College Oxford -  Financial Stability & Euro Adoption: Lessons from Ireland?
• Daniel Dăianu, Professor, School of Political&Administrative Studies, Bucharest -  Regaining Financial Stability: Taming Financial Markets Is a Must - a focus on NMSs
• Neven Mateš, Chief Adviser to the Governor, Croatian National Bank -  New Perspectives on the Financial Stability of the SEE Countries: Primarily a Macroeconomic Issue

Closing remarks by Cristian Popa, NBR Deputy Governor