The workings of the European Central Bank at first hand

º Guillermo Rebollo de Garay (Business Administration + Industrial Technology Engineering alumnus of the class of 2019) gave a session to 2nd year students as part of the Spanish and World Economy subject. He is currently working in the Directorate General Communications of the European Central Bank (ECB) after completing his education at the College of Europe (Bruges) with a Master's degree in Economics.

For the second consecutive year, Rebollo de Garay participated in Professor Beatriz Iñarritu’s class to introduce students to the ECB, its history, its organisation and its mandate. He shared with the students how the decision-making mechanism in Frankfurt works its way through to the real economy (the transmission of monetary policy) and the extraordinary situation that the pandemic brought about. He conveyed to the students the complexity of the financial system and at the same time its importance for growth and wealth creation. In addition, he devoted part of the lecture to understanding how proper banking supervision is critical to ensure that banks are well capitalised. Finally, he reviewed the changes that have been taking place in banking supervision since the creation of the Single Supervisory Mechanism (SSM) after the Great Recession.