CONFERENCE MOTIVATION
The conference will be staged as a court trial in which cash will be accused with three charges: First, cash is an essential part of many kinds of criminal activities; second, it is an inefficient and outdated means of payment; and third, it prevents central banks from implementing optimal monetary policy in times when price stability would require negative interest rates. To spur a lively discussion we intend to develop the conference in a defense and prosecution part, where witness’ are called to elaborate on the charges. Additional presentations will provide a neutral overview of the current situation of the use of cash in the Eurosystem and of ideas to develop a digital cash by central banks.
The conference deliberations will deal with the following themes:
o Cash: inefficient, outdated and a facilitator of crime?
o Cash: still used vastly, not at the heart of current low inflation rates and keeper of civil rights?
o Central Bank Digital Money and e-Krona: the future?
Cash and zero lower bound
Katrin Assenmacher, Head of Division, Monetary Policy Strategy, European Central BankCash – an inefficient and outdated means of payment
Marc Niederkorn, Partner, McKinsey & CompanyCash and crime – the perspective of a law enforcement agency
Simon Riondet, Head of Financial Intelligence, EuropolStability oriented monetary policy and cash – no contradiction!
Fritz Zurbrügg, Vice Chairmann of the Governing Board, Swiss National BankAbolishing Cash: An Effective Instrument for Fighting the Shadow Economy, Crime and Terrorism?
Friedrich Schneider, Professor, Johannes Kepler University, LinzTrust, data protection and freedom – cash in a world going digital
Heike Mai, Analyst, Banking, Financial Markets and Regulation, Deutsche BankCash payment in the euro area – evidence from the payment behaviour study
Doris Schneeberger, Head of Currency Management Division, Directorate Banknotes, European Central BankSubstitute or complement? The e-krona versus cash
Cecilia Skingsley, Deputy Governor, Sveriges Riksbank
Discussion with the audience
Pleadings by Prosecution and Defense, Jury withdrawing
What is money? Cash versus central bank digital currencies
Morten Bech, Head of Secretariat of the Committee on Payments and Market Infrastructures, Bank for International SettlementsA philosopher’s reflections on cash
Gaspard Koenig, GenerationLibre
