In his address to the IIEA, Jón Danielsson discusses the ideas contained within his new book, The Illusion of Control: Why Financial Crises Happen, and What We Can (and Can’t) Do About It. Prof. Danielsson challenges the conventional wisdom surrounding financial risk, and share his belief that easy solutions to control the financial system are doomed to fail. Instead of the buffers against shocks, it would be better, in his view, to increase shock absorption by diversifying the types of financial institutions we have, a policy that could result in more economic growth and a more stable financial system. He will apply his ideas to the lessons learned from the failure of the Silicon Valley Bank and Credit Suisse.

About the Speaker:

Jón Danielsson is one of the two Directors of the Systemic Risk Centre and Reader in Finance at the LSE. Since receiving his PhD in the economics of financial markets from Duke University in 1991, his work has focused on how economic policy can lead to prosperity or disaster. He is an authority on both the technical aspects of risk forecasting and the optimal policies that governments and regulators should pursue in this area. He has written three highly regarded books: The Illusion of Control (Yale University Press, 2022), which was included on the Financial Times “Best books of 2022” list; Financial Risk Forecasting (Wiley, 2011); and Global Financial Systems: Stability and Risk (Pearson, 2013). He has also contributed numerous academic papers on systemic risk, artificial intelligence, financial risk forecasting, financial regulation and related topics to leading academic journals, including Review of Financial Studies and the Journal of Econometrics. At the LSE, he teaches courses in technical risk forecasting and on how the global financial system operates. He has also worked for the Bank of Japan and the International Monetary Fund.

The Illusion of Control: Why Financial Crises Happen, and What We Can (and Can’t) Do About It

Ireland finally beat New Zealand in 2016.
With brilliant commentary from New Zealand TV and previous heartbreak from RTE Radio one and idiotic predictions from Second Captains.

Music: 
Wisdom from Brian Jonestown Massacre https://itunes.apple.com/ie/album/tepid-peppermint-wonderland/id1056856909

And Wasting My Young Years by London Grammar
https://itunes.apple.com/ie/album/if-you-wait-deluxe-version/id675018027

"Drops it off to Henshaw!" - Ireland Beat The All-Blacks

Tackling climate change is one of the main challenges of the 21st century. Last November the latest UN Intergovernmental Panel on Climate Change (IPCC) report warned that we have just 12 years left for effective action to be taken against rising temperatures.

Over the past decade the European Union has led action for climate targets among Member States. In 2015, under the landmark Paris Climate Agreement, the EU committed to reducing emissions by 40% by 2030, compared to 1990 levels.

While some EU member states have made significant progress in meeting their targets, others including Ireland, are lagging behind in meeting these commitments. Meeting these targets will require ambitious action by Member States to reduce emissions in key economic sectors. The agricultural sector is one of Ireland’s most important industries, yet it accounts for over 30% of greenhouse gas emissions, making it the single largest contributor to Ireland’s total emissions. There is an urgent need to reconcile the need for urgent climate action and the need to protect the agricultural sector’s competitiveness and the livelihoods that depend on it.

Political leaders and policymakers have to find solutions to this challenge now. This is not a challenge faced by Ireland alone. Across Europe, policymakers and politicians are looking for solutions. In France, the Yellow Vest protests were initially sparked by increased carbon taxes. Clearly, a considered but effective approach to climate action is required to ensure a just transition and minimal economic and social disruption.

This event is part of the IIEA’s Future of the EU27 Project, supported by the Department of Foreign Affairs and Trade.

Event Chair: Niall Delaney, Presenter, Ocean FM
Audience Q&A Begins at: 36:36

Speakers:

· Marian Harkin, outgoing MEP for the Midlands/North West Constituency;

· Martin Kenny TD, Sinn Féin Spokesperson on Agriculture, Food & the Marine;

· Thomas Cooney, Chairman of the IFA National Environment Committee

· Dr Pippa Hackett, Green Party Spokesperson on Agriculture, Food, Forestry, Heritage & Animal Welfare.

Climate Change and the Future of Agriculture: A Debate on the Future of Europe

Sharing Ideas Shaping Policy. The Institute of International and European Affairs is an independent policy research think-tank based in Dublin.

The Illusion of Control: Why Financial Crises Happen, and What We Can (and Can’t) Do About It

IIEA

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