The European Chamber of Commerce in China is pleased to invite you to the Exit: What the Eurozone Would Look Like and Its Implications for Business on 4^th September, 2012 at the Fairmont Hotel Beijing.  

The Euro was established by the Maastricht Treaty (Treaty on the European Union) of 1992. It began circulation in 2002. The “Eurozone” currently comprises those 17 EU member states which have adopted the Euro as their national currency. All remaining EU member states are required by treaty to join the Euro (except three with opt-out rights) once they satisfy stated criteria. The European Central Bank sets monetary policy across the Eurozone, with responsibility for managing price stability.

Entry to the Euro is stated to be dependent on satisfaction of three fiscal and monetary tests. In the case of some countries the perception is that these tests proved difficult to meet and may not always have been enforced. Several countries experienced credit-fuelled booms following entry to the Eurozone. The financial crisis from 2007 onwards caused liquidity shocks and depressed economic growth, resulting in reduced fiscal revenues and consequent financial stress for several Eurozone states. Without independent monetary policy or the ability to allow currency to devalue, limited tools are available to national governments. The possibility of sovereign default is seen to have increased.

Speaker1: Mr. Simon Booker, Economics and Regulation Director, KPMG LLP

- The Global economic environment and trends;

- Recent developments within the Eurozone and the economic context to these developments; and

- Potential implications of the Eurozone crisis for economic growth in China

Speaker2: Mr. Peter Goes Partner, Linklaters LLP

- Possible outcomes and consequences of the crisis and theoretical Eurozone exit routes

- What would a Eurozone exit look/feel like and what would the major legal/regulatory consequences be

- Implications for organisations: some key themes

- How to prepare for a Eurozone exit

Speakers

Mr. Simon Booker

KPMG

Mr. Simon Booker

KPMG

View speaker details

Simon leads KPMG’s Economics & Regulation practice based in Hong Kong. He is a recognised expert in economics and economic policy and has advised Governments and corporations in Hong Kong, Europe, North America, India and Asia on economic strategy and policy. Prior to joining KPMG, Simon acted as a Senior Economic Advisor to the UK Government. He has advised the UK Chancellor of the Exchequer on economic policy and reform in addition to advising the UK Civil Aviation Authority on the economic regulation of UK airports – including London Heathrow. He regularly provides assistance to clients in mergers and acquisitions and in disputes where economic factors are influential to valuations or losses. Simon has also worked as a senior corporate economist in London.

Mr. Peter Goes

Consultant

Mr. Peter Goes

Consultant

View speaker details

With over 25 years’ experience Peter specialises in corporate work, mainly in the areas of (cross border) M&A (including public M&A), Private Equity and board room consulting. He alsohas considerable experience in and knowledge of the Energy & Utilities market and the market of financial institutions.

Peter relocated in April 2012 from Amsterdam to Beijing. Recent transactions include advising Pang Da in its investment in European car producer Saab, Safilo in its acquisition of the Polaroid sunglass brand (with over 100 jurisdictions involved), the Royal Bank of Scotland in its acquisition of ABN AMRO and the subsequent break up and global restructuring of ABN AMRO, Swedish Vattenfall in its acquisition of the Dutch incumbent energy supplier Nuon (the largest European transaction in 2009), the Dutch State in the acquisition of its minority stake in the Port of Rotterdam, as well as on the acquisition of the national gas transmission grid from Shell and ExxonMobil andon the acquisition of national electricity transmission grid.

Peter is fluent in Dutch and English and also speaks German. He lectured at the Rotterdam School of Management on cross border M&A.

Contact