Welcome Address: Guido Cazzavillan (Univeristà Ca' Foscari Venezia)
Opening Remarks: Stephen M. Schaefer (London Business School)

• Key-note talk: Exorbitant Privilege and Exorbitant Duty: the United States and the International Financial System
  Hélène Rey (London Business School)

• Measuring Sovereign Contagion in Europe
  Massimiliano Caporin (Univerisità di Padova), Loriana Pelizzon (Univeristà Ca' Foscari Venezia & MIT Sloan), Francesco Ravazzolo (Norges Bank & BI Norwegian Business School) and Roberto Rigobon (MIT Sloan & NBER)
  Discussant: Alain Monfort (CREST, Banque de France & University of Maastricht)

• Financial Sector Linkages and the Dynamics of Bank and Sovereign Credit Spreads
  René Kallestrup (Copenhagen Business School), David Lando (Copenhagen Business School) and Agatha Murgoci (Copenhagen Business School)
  Discussant: Roberto Savona (Università di Brescia)

• Sovereign Credit Risk and Banking Crises
  Manuel Mayer (Vienna Graduate School of Finance)
  Discussant: Ilya A. Strebulaev (Stanfrd University)

• The Dynamics of Sovereign Credit Risk
  Alexandre Jeanneret (HEC Montréal)
  Discussant: Ilya A. Strebulaev (Stanfrd University)

• Corporate and Sovereign Credit Risk in the Euro Area During the Period 2007-2011
  Alessandro Fontana (Geneva Finance Research Institute & FINRISK)
  Discussant: Alberto Plazzi (University of Lugano & Swiss Finance Institute)

• Decomposing Euro-Area Sovereign Spreads: Credit and Liquidity Risks
  Alain Monfort (CREST, Banque de France & University of Maastricht) and Jean-Paul Renne (Banque de France)
  Discussant: Andrea Berardi (Università di Verona)

• Eurozone Sovereign Bond Crisis: Liquidity or Fundamental Contagion
  Jennie Bai (Federal Reserve Bank of New York), Christian Julliard (London School of Economics) and Kathy Yuan (London School of Economics & CEPR)
  Discussant: Alessandro Fontana (Geneva Finance Research Institute & FINRISK)

• Sovereign Risk Premia
  Nicola Borri (LUISS Guido Carli, Rome) and Adrien Verdelhan (MIT & NBER)
  Discussant: Stephen M. Schaefer (London Business School)

• The “Greatest” Carry Trade Ever? Understanding Eurozone Bank Risks
  Viral V. Acharya (New York University, CEPR & NBER) and Sascha Steffen (European School of Management and Technology, Berlin)
  Discussant: Hélène Rey (London Business School)

• Sovereign Default and Banking
  Igor Livshits (University of Western Ontario, BEROC) and Koen Schoors (University of Ghent)
  Discussant: Marcello Pericoli (Banca d’Italia)

• A Theoretical and Empirical Comparison of Systemic Risk Measures
  Sylvain Benoit (University of Orléans), Gilbert Colletaz (University of Orléans), Christophe Hurlin (University of Orléans) and Christophe Pérignon (HEC Paris)
  Discussant: Massimiliano Caporin (Università di Padova)

• Which Are the SIFI? A Component Expected Shortfall (CES) Approach to Systemic Risk
  Georgiana-Denisa Banulescu (University of Orléans & Maastricht University) and Elena-Ivona Dumitrescu (University of Orléans & Maastricht University)
  Discussant: Paolo Giudici (Università di Pavia)

• Bilateral Exposures and Systemic Solvency Risk
  Christian Gouriéroux (CREST & University of Toronto), Jean-Cyprien Héam (CREST & ACP) and Alain Monfort (CREST, Banque de France & University of Maastricht)
  Discussant: Andrea Giacomelli (GRETA, Venice)

• Sovereign Debt Rating Changes, Corruption and the Stock Market
  Alexander Michaelides (University of Cyprus, CEPR & NETSPAR), Andreas Milidonis (University of Cyprus), George Nishiotis (University of Cyprus) and Panayiotis Papakyriacou (University of Cyprus)
  Discussant: Roger M. Stein (Moody's Corporation & MIT)

• Credit Ratings across Asset Classes: A ≡ A?
  Jess Cornaggia (Indiana University), Kimberly J. Cornaggia (Indiana University) and John E. Hund (Rice University)
  Discussant: Roger M. Stein (Moody's Corporation & MIT)

• Credit Market Competition and Liquidity Crises
  Elena Carletti (European University Institute & CEPR) and Agnese Leonello (University of Pennsylvania)
  Discussant: Loriana Pelizzon (Univeristà Ca' Foscari Venezia & MIT Sloan)

• Key-note talk: In What Form will the Eurozone Emerge from the Crisis?
  Franklin Allen (University of Pennsylvania)

• Credit Supply During a Sovereign Crisis
  Marcello Bofondi (Banca d'Italia), Luisa Carpinelli (Banca d'Italia) and Enrico Sette (Banca d'Italia)
  Discussant: Marcella Lucchetta (Università Ca’ Foscari Venezia)

Participants:

• Andrea Beltratti (Intesa Sanpaolo, Chairman of the Management Board)
• Maria Cannata (Ministry of Economy and Finance, Department of the Treasury, Director General of the Public Debt Directorate)
• Robert W. Jenkins (Financial Policy Committee of the Bank of England & London Business School)
• Fabio Panetta (Banca d’Italia, Managing Director for the Eurosystem and the Financial Stability)
• Hélène Rey (Banque de France, Board of the Collège de l'Autorité de Contrộle Prudentiel & London Business School)
• Stefano Visalli (McKinsey, Director, Member of the European Banking Exco)