Uploaded July 2026 | Updated September 2026, 2 weeks ago
The ECB Forum on Central Banking – the Sintra Forum – is an annual event organised by the European Central Bank and is held in Sintra, Portugal.
It brings together central bank governors, academics, financial market representatives, journalists and others to exchange views on current policy issues and discuss the Forum’s key topic from a longer-term perspective.
Full programme can be found here: https://www.ecb.europa.eu/press/conferences/html/20260629_ecb_forum_on_central_banking.en.html
High-quality images are available via the ECB's press photos collection: https://multimedia.ecb.europa.eu/web/c4af5fb59506450/-ecb-forum-on-central-banking-in-sintra/
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- 00:00 Welcome and introduction
- 01:04 Session 3
"Migration: implications for productivity and growth in Europe"
Chair: Boris Vujčić, Vice-President, European Central Bank
Paper: "The immigration impact on population, labor productivity, investments and TFP in OECD countries"
Author: Giovanni Peri, Professor, University of California, Davis
(together with Gaetano Basso, Economist, Banca d'Italia, and Mitali R. Mathur, University of California, Davis)
Discussant: Hillel Rapoport, Professor, Paris School of Economics
- 1:07:48 Session 4
"Tokenisation: challenges and opportunities when money, payments and financial transactions become digital"
Chair: Piero Cipollone, Member of the Executive Board, European Central Bank
Paper: "A unified ledger in practice: lessons from Project Hangang"
Author: Hyun Song Shin, Governor, Bank of Korea
(together with Jaemin Ryu, Joonyi Sung, and Sung Guan Yun, all Bank of Korea)
Discussant: Catherine Casamatta, Toulouse School of Economics
- 2:37:22 Panel 2
"Europe’s role in the new global trade landscape"
Chair: Philip R. Lane, Member of the Executive Board, European Central Bank
Laura Alfaro Maykall, Chief Economist and Economic Counselor, Inter-American Development Bank
Marion Jansen, Director of the Trade and Agriculture Directorate, OECD
Ralph Ossa, Professor, University of Zurich
Denis Redonnet, Deputy Director-General for Trade and Economic Security, European Commission
- 5:16:44 Policy panel
Andrew Bailey, Governor, Bank of England
Christine Lagarde, President, European Central Bank
Tiff Macklem, Governor, Bank of Canada
Kevin Warsh, Chairman, Board of Governors of the Federal Reserve System
Moderator: Sara Eisen, Anchor, CNBC
- 6:16:07 Award ceremony for the Young Economist Prize
- 6:25:24 Closing remarks
Christine Lagarde, President, European Central Bank
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Closed captions are generated automatically by speech-recognition software. As a result, the transcript may contain errors, misspellings, or omissions. The broadcaster is not responsible for any inaccuracies. For the most accurate information, please refer to the original audio track.
The ECB Forum on Central Banking – the Sintra Forum – is an annual event organised by the European Central Bank and is held in Sintra, Portugal.
It brings together central bank governors, academics, financial market representatives, journalists and others to exchange views on current policy issues and discuss the Forum’s key topic from a longer-term perspective.
Full programme can be found here: https://www.ecb.europa.eu/press/conferences/html/20260629_ecb_forum_on_central_banking.en.html
High-quality images are available via the ECB's press photos collection: https://multimedia.ecb.europa.eu/web/c4af5fb59506450/-ecb-forum-on-central-banking-in-sintra/
--
- 00:00 Welcome and introduction
- 01:04 Session 3
"Migration: implications for productivity and growth in Europe"
Chair: Boris Vujčić, Vice-President, European Central Bank
Paper: "The immigration impact on population, labor productivity, investments and TFP in OECD countries"
Author: Giovanni Peri, Professor, University of California, Davis
(together with Gaetano Basso, Economist, Banca d'Italia, and Mitali R. Mathur, University of California, Davis)
Discussant: Hillel Rapoport, Professor, Paris School of Economics
- 1:07:48 Session 4
"Tokenisation: challenges and opportunities when money, payments and financial transactions become digital"
Chair: Piero Cipollone, Member of the Executive Board, European Central Bank
Paper: "A unified ledger in practice: lessons from Project Hangang"
Author: Hyun Song Shin, Governor, Bank of Korea
(together with Jaemin Ryu, Joonyi Sung, and Sung Guan Yun, all Bank of Korea)
Discussant: Catherine Casamatta, Toulouse School of Economics
- 2:37:22 Panel 2
"Europe’s role in the new global trade landscape"
Chair: Philip R. Lane, Member of the Executive Board, European Central Bank
Laura Alfaro Maykall, Chief Economist and Economic Counselor, Inter-American Development Bank
Marion Jansen, Director of the Trade and Agriculture Directorate, OECD
Ralph Ossa, Professor, University of Zurich
Denis Redonnet, Deputy Director-General for Trade and Economic Security, European Commission
- 5:16:44 Policy panel
Andrew Bailey, Governor, Bank of England
Christine Lagarde, President, European Central Bank
Tiff Macklem, Governor, Bank of Canada
Kevin Warsh, Chairman, Board of Governors of the Federal Reserve System
Moderator: Sara Eisen, Anchor, CNBC
- 6:16:07 Award ceremony for the Young Economist Prize
- 6:25:24 Closing remarks
Christine Lagarde, President, European Central Bank
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Closed captions are generated automatically by speech-recognition software. As a result, the transcript may contain errors, misspellings, or omissions. The broadcaster is not responsible for any inaccuracies. For the most accurate information, please refer to the original audio track.
