Intensive Summer Course on Financial integration in the EU 15 years after the ESFS

Salzburg – 14-18 July 2025

Fifteen years since the creation of the European System of Financial Supervision (ESFS) in 2010, the EU has seen significant developments in its financial architecture. The ESFS established a new framework for financial oversight, comprising the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Systemic Risk Board (ESRB). These bodies have worked to enhance financial stability, promote market integration, and safeguard consumer interests. Despite their success, several legal and institutional challenges have emerged. Debates around the Meroni doctrine, which limits the delegation of powers to EU agencies, and issues of multilevel cooperation between national and EU authorities have remained central. The framework has also raised questions about judicial control and the balance between supervision, resolution, and guarantee schemes.

This summer course provides an opportunity to reflect on these developments and explore the evolution of financial integration within the EU. Sessions will focus on the supervision, resolution, and guarantee dimensions across key sectors, including banking, insurance, securities, and financial markets, offering a comprehensive view of the progress made and the challenges ahead in creating a more integrated financial system.  

The course extends over one week. Between 14 and 18 July 2025, each day there will be several sessions on fundamental and topical questions related to EU financial integration. It is open for up to 40 participants who will be selected based on their academic/professional merit. The course is free of charge, participants bear their own expenses.

Taught both by academics working in this field and practitioners from relevant public authorities, both at national and at EU level, this course, organised in the framework of the Jean Monnet Centre of Excellence EUCHALLENGES, offers an up-to-date account of these vibrant developments.

Programme (subject to modifications)

Monday, 14 July 2025: Introductions

  • Session 1 (8:45-10:45): Introduction to the course and to EU regulation in the banking sector – Diane Fromage (Univ. of Salzburg) 
  • Session 2 (11:00-13:00): Introduction to EU regulation of financial markets  – Jonathan Bauerschmidt (Council of the EU, Legal Service)
  • Session 3 (14:15-16:15): Introduction to the EU regulation of insurance and occupational pensions – Magdalena Kozińska (Bank Guarantee Fund) 

Tuesday, 15 July 2025: Securities and Markets

  • Session 1 (8:45-10:45): Supervision – Clemens Nimmerrichter (FMA) 
  • Session 2 (11:00-13:00): Resolution – Michiel De Muynck (Univ. of Antwerp) 
  • Session 3 (14:15-16:15): Investor Compensation Schemes – Paul Weismann (Univ. of Salzburg) 

Wednesday, 16 July 2025: Banking sector

  • Session 1 (8:45-10:45): Banking supervision – Stefano Montemaggi (Banca d’Italia)
  • Session 2 (11:00-13:00): Banking resolution – Jakub Kerlin (European Commission)
  • Session 3 (14:15-16:15): Deposit Guarantee Schemes – Mateusz Krauze (European Commission)

Thursday, 17 July 2025: Insurance

  • Session 1 (8:45-10:45): Supervision – Marc Horovitz (European Commission)
  • Session 2 (11:00-13:00): Resolution – Lisa Ranftl (FMA)
  • Session 3 (14:15-16:15): Insurance Guarantee Schemes – Maarten van Campenhout (EIOPA)

Friday, 18 July 2025: Reflecting on financial integration so far and in the future

  • Roundtable (8:45-10:45) Takis Tridimas (Univ. of Luxembourg) (Chair), Raffaele D’Ambrosio (Banca d’Italia), Jakub Kerlin (European Commission), Edoardo Rulli (European Commission), IMF representative (tbc), Juliane Kokott (CJEU, tbc) 
  • Keynote speech (11:15–12:45) Jakub Michalik (ESMA) 

How to apply

 Required documents:

  • Curriculum vitae (three pages maximum, Times New Roman, 12 pt., 1.5 line-spacing)
  • Motivation letter (one page maximum)
  • For doctoral students and young professionals (3 years of (postdoctoral) experience): letter of recommendation from supervisor or employer

To be submitted to Ms. Melanie Rieger (eulaw@TcX7zplus.WjuV0ac.atUD4Sl) by Friday, 28 March 2025.

Applicants will be informed of our decision by Monday, 28 April 2025.

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